EGRAG CRYPTO, who previously predicted that XRP could spike to $1.40, has now changed their forecast to $27.
TL;DR
Analyst EGRAG CRYPTO suggests XRP could reach $27 after Ripple’s legal win and its role in cross-border payments.
Investors are advised to be cautious due to potential broader market downturns.
Past XRP price predictions from different analysts vary widely, from $1.40 to $500.
Much More Bullish After Ripple’s Second Victory
The popular cryptocurrency analyst using the X (Twitter) handle EGRAG CRYPTO opined that the latest developments surrounding Ripple could act as a catalyst for its native token – XRP – to spike to as high as $27.
They argued that the latest court win for the blockchain enterprise is of huge benefit to the coin, whose state now “offers a remarkable degree of legal clarity, making it a pioneering digital asset in terms of regulatory acknowledgment.”
In addition, the analyst reminded that XRP takes part in resolving cross-border payments, which is another bullish factor.
On the other hand, EGRAG CRYPTO said investors should remain mindful of the broader financial landscape that is currently not in its best condition. On top of that, some technical analysts have forecasted a 40%-50% downturn in both stock and equity markets that might impact the cryptocurrency industry.
“I’m firmly on board with the exciting $27 journey, but we must also be prepared for the unexpected, which might just put XRP’s legendary nickname, “The Rise of The Phoenix,” to the test,” they concluded.
It’s worth noting that XRP priced at $27 would imply a tremendous market cap and increase of more than 50x of its current price.
The Previous Forecasts
The last time EGRAG CRYPTO laid out a prediction on XRP’s valuation was at the end of September. They envisioned a surge to $1.40 should the coin close above the Fib 0.5 level at 0.57C “with undeniable confirmation.”
The X users Dark Defender and Shannon Thorp were also among the people giving their two cents on XRP’s future price. The former thinks the asset is poised for an increase towards $5.85, while the latter said the ridiculous $500 mark is in the cards.
Those who wish to find out ChatGPT’s opinion on the matter can take a look at the video below:
https://www.youtube.com/watch?v=w2ve314r74k