Analyst Predicts Three-Phase Journey for XRP Price to Hit $46

Crypto analyst Egrag Crypto suggests that XRP could hit $46 based on historical trends from the first market cycle. According to his assessment of the three-cycle pattern, the cryptocurrency might achieve double-digit values if it reflects patterns seen in previous cycles.

XRP Price Could Reach $46 If It Follows Cycle One

In a post on X, Egrag Crypto pointed out that investors might witness XRP climbing to $46 should it replicate the trajectory of the first cycle. He noted a significant historical pattern where XRP plummeted below the 21 Exponential Moving Average (EMA), resulting in an extraordinary drop of 5,550%. Following that, the altcoin briefly rebounded towards the 21 EMA, only to face an additional decline of 2,500%.

Further Insights

In his analysis, the expert anticipates that the XRP price could reach $12 if it adheres to the second cycle’s behavior. During this cycle, XRP fell beneath the 21 EMA, which triggered a 150% decline, after which it rose to the 21 EMA once more before dropping another 500%. Egrag Crypto calculated that averaging the projected surges of 2,500% and 500% yields nearly 1,500%, hinting at a target around $30. However, he clarified that his actual estimate stands at $27.

Regarding the current third cycle, the analyst noted that XRP has again fallen below the 21 EMA, indicating a potential increase of 430%. He mentioned that the altcoin appears to be retracing back to touch the 21 EMA. Egrag Crypto expressed that if XRP maintains a price above $2, the EMA will adjust downward to align with the price. He is confident that this movement is imminent.

Could the Altcoin Reach $27 Within 60 Days?

In a separate evaluation, Egrag Crypto projected the possibility of XRP surging 1,700% to reach $27 within just 60 days. He remarked that if XRP is repeating a significant pattern from October 2017, the altcoin could be on the verge of a major bullish breakout. At that time, it took XRP roughly 63 days to soar and establish a new all-time high (ATH), with a remarkable increase of 1,772%.

Further Insights

Should historical patterns continue, Egrag Crypto is optimistic that the XRP price may approach $27 within the next 63 days. He urged investors to consider securing profits as the altcoin rises to this target. Additionally, he pointed out that surpassing the $3 mark, the peak from the February 24 candle this year, is crucial for anticipating a move towards double digits.

Currently, XRP is trading around $2.33, reflecting an increase over the last 24 hours based on information from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com