Gaming The System: Pundit Reveals Why XRP Price Will Reach $33
May 13 2024 - 6:00PM
NEWSBTC
A crypto analyst has predicted a substantial bullish surge for the
the XRP price in the future. According to the analyst, XRP is
gearing up for a substantial increase to $33.5 from an initial
price of $0.50. He expects the price of the cryptocurrency to
explode by 6600% in this current market cycle. Analyst Forecasts
Exponential Rise In XRP Price In a recent X (formerly Twitter)
post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a
series of bullish price targets for XRP in the near future. The
analyst focused his predictions on a technical analysis called “the
Line of Hestia.” Related Reading: US Mega Banks JP Morgan And
Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Egrag
Crypto’s latest findings suggest that XRP could rise to $33.5 if it
touches the Line of Hestia, a technical indicator featuring an
ascending trend line which signals a potential upsurge for the
price of a cryptocurrency. According to the analyst, “Historical
data indicates that every time the XRP price touches the “Line of
Hestia,” it experiences significant price pumps.” This
implies that there may be a correlation between XRP’s bullish price
movements and the ascending trend line. Egrag Crypto also revealed
that following this historical pattern, XRP has witnessed pumps
ranging from 6600%,1444%, 100%, 80%, and 171%. Given the
established trend, Egrag Crypto predicts XRP’s ascent to new
all-time highs. He calculated the average percentage increase of
XRP’s price each time it touched the Line of Hestia, dividing the
sum by the total number of occurrences, which is five. Using
this data, the crypto analyst estimates that if XRP were to
experience a 6600% increase, its future price would be $33.50.
Similarly, he calculated new prices for XRP based on the previous
percentages. It’s important to note that the price of XRP, at the
time of writing, is trading at $0.5. The cryptocurrency has been
recording considerable declines over the past year, consolidating
around the $0.5 price mark for months. According to CoinMarketCap,
XRP has also recorded a 7.35% decrease over the past seven days and
a 0.08% decline in the last 24 hours. Although Egrag Crypto
has remained optimistic about XRP’s future price, other crypto
community members have expressed skepticism over the analyst’s
ambitious forecast. A few community members have denied the
prediction, emphasizing that the cryptocurrency’s surge to $33.5
during this cycle was highly unlikely. Possible Price
Correction Ahead Of Projected Surge In one of his most recent X
posts, Egrag Crypto disclosed that XRP could witness a major price
correction before experiencing a significant rally. The analyst has
urged crypto investors to remain cautious of the cryptocurrency
unless the XRP/BTC ratio closes above the $0.00010 threshold.
Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment
Erodes Amid Drop Toward $60,000 Egrag Crypto anticipates a
potential 45% decline for XRP/BTC, emphasizing that this
substantial price drop could indicate a bottom between $0.0000055
and $0.0000077. However, he also disclosed that overcoming
resistance at $0.00001 would be crucial for a rebound in
XRP. Token price at $0.5 | Source: XRPUSDT on
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