Renowned analyst EGRAG recently made an optimistic prediction for the XRP price, suggesting the cryptocurrency could rise to as high as $4 in June or July. This prediction comes at a time when XRP is struggling to maintain a stable uptrend, as evidenced by recent price movements. But on what data is this prediction based?
XRP price is experiencing a struggle
Currently priced at $0.5241, XRP has experienced significant fluctuations and recently tested a two-year low at $0.43. Despite this dip, the asset has staged a remarkable recovery, but it remains challenging to maintain a bullish trend, with the price now hovering around $0.53. EGRAG believes XRP could mimic its 2021 bullish move.
https://twitter.com/egragcrypto/status/1783402656473457047
Two scenarios for the price increase of XRP
In its latest analysis, EGRAG identified two potential scenarios for XRP, shown in blue and yellow sections on its chart. The blue section indicates the possibility that XRP could reach between $1.2 and $1.8 by summer, which would represent a 243% increase from the current price. This scenario follows the early stages of XRP’s 2021 rally before it reached its peak.
More ambitiously, EGRAG points to the yellow section of its chart, which mimics XRP’s rally from the previous cycle, when it rose to $1.96 in April 2021. According to the analyst, if XRP follows this route, it could potentially see a big rise see 664%, which would push the price to $4.
Past and current predictions from EGRAG for XRP
EGRAG’s predictions are not limited to these figures. He previously projected that XRP could reach $17 in May and he maintains a long-term bullish target of $27 for the asset in this market cycle. However, there is currently still some uncertainty because Ripple is involved in a lawsuit. The outcome of these lawsuits will have a major impact on the price of XRP
Source: https://bitcoinmagazine.nl/nieuws/xrp-koers-zomer-4
