Popular Crypto Market analyst Egrag Crypto predicts the key price pump for XRP. Egrag believes it will be possible to increase the price of the world’s third largest market hat by 1,500%. With a 1,500% increase, XRP is 39.52 from the current 2.47.
Egrag’s predicted size XRP pump may set the tone of the bull run in the crypto sector. When major assets like Bitcoin (BTC) rise, they carry several other things and pumps are also recorded.
Crypto Investors can prepare this pump by picking the next 100x coins early and spreading its portfolio in anticipation of the pump. These coins are expected to rise along with key market assets as well as key market assets. This provides factors such as exclusive access to market advance sales, low transaction fees, speed of payments, and opportunities for staking to acquire.
Egrag’s predictions show that the Bull Market Support Band (BMSB) is capable of pumping. In the X post, the analyst explained that BSMB indicates whether the market is in Bull Run or Bear Market. If you go with the indicator, the XRP is set to jump despite its current low price.
Egrag also supports his predictions using historical precedents. X’s post points out that XRP in 2017 touched on the “purple foundation” on the charts, bringing closer to BMSB. At the time, XRP continued to spike 1,500% over four weeks. Analyst charts show that XRP touched Purple Foundation and hit BSMB. Egrag offered a $27 target.
Another analyst, Javon Marks, believes XRP could reach $99 with a potential breakout that is currently “very similar to 2017.” Marks points out that XRP prices have recently met to an all-time high, reaching a new level of resistance, like in 2017. Analysts are currently predicting a much bigger jump at 3.900%.
But not everyone is optimistic. In response to EGRAG, trader and analyst Cryptostorm refuses to believe that XRP could reach $27 without a “large burning of token mechanism.” According to Cryptostorm, XRP’s $27 market capitalization is astronomical. Its total supply is 100 billion, with a market capitalization of $2.7 trillion, making XRP one of the most valuable assets in the world. Cryptostorm concludes:
“This scenario requires not only burning tokens, but also a surge in demand or utility that justifies such evaluations. Stop dreaming and descend on Mother Earth!”
Given the recent performance of XRP, the near future looks uncertain as assets have declined 23% over the past seven days. However, factors such as the launch of Kucoin Pay with XRP support and potential XRP ETFs can be beneficial to your assets. Several major asset managers, including Bitwise and WisdomTree, have already filed applications with the US Securities and Exchange Commission (SEC) through XRP ETF’s CBOE BZX Exchange. In addition to improving XRP liquidity, approved ETFs could contribute to bullish forecasts from EGRAG and Mark.
Source link
