Popular Ripple (XRP) holder on X, Egrag Crypto, predicts that XRP will hit $6.24 in 2024. If XRP reaches the target price, the cryptocurrency’s value has risen by 836% from its peak price of the previous day. In his piece, Egrag also predicted that XRP will rise by a staggering 3581% between 2024 and 2025, with the altcoin’s price eventually hitting $26.
At the time of composing this text, the value of XRP stood at $0.61, undergoing a correction along with numerous other tokens in the market. Egrag’s forecast rested on the observation that XRP had established a bullish flag—a chart pattern characterized by two upward movements interrupted by a retracement.
The analyst employed the 30-day XRP/USD chart to illustrate the formation of a flagpole during XRP’s previous surges. Consequently, should a substantial amount of liquidity flow into the XRP market, it could result in the price achieving higher highs and sustaining an upward trend.
Ripple’s Legal Odyssey: A Pivotal Factor In XRP’s Quest For New All-Time Highs
In the present market cycle, achieving significant heights for XRP might seem improbable. However, during a robust bull market, such a scenario is not inconceivable. Egrag’s prediction, pinpointing the potential time frame between 2024 and 2025, may be associated with the Bitcoin (BTC) halving.
In the past, several cryptocurrencies have shown positive performance in the months following a Bitcoin halving. However, achieving the mentioned price target for XRP may require more than just a substantial increase in accumulation at the moment.
The resolution of Ripple’s ongoing legal battle with the U.S. SEC could be a significant contributing factor. As demonstrated earlier this year, a favorable outcome for Ripple and XRP has the capability to propel the token to achieve a new All-Time High (ATH).
Related Reading| An analyst suggests that XRP could reach either $6.24 or surge to $26. The outcome may hinge on the SEC case, significantly influencing XRP’s trajectory in the upcoming bull market.
The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.
Comments (No)