XRP price action in recent weeks It has been nothing but phenomenal.. Notably, the price of This notable rise has put XRP in the spotlight, with several discussions taking place on social media and cryptocurrency trading forums. around long-term predictions for the cryptocurrency.
among the voices celebrating this achievement is crypto analyst EGRAG CRYPTO, who reviewed a bold forecast made in 2022 that accurately predicted the price of XRP will reach $2.82. His recent post on social media platform X goes further, hinting at an even more dramatic rise for the altcoin amid the current rally.
2022 Prediction Resurfaces Amid XRP Bullish Rally
EGRAG CRYPTO is one of the most bullish proponents of XRP on social networks. In August 2022, EGRAG CRYPTO made an ultra bullish prediction on the price of XRP, projecting an increase to double digits. While this prediction may align well with current price dynamics, this has not always been the case. At the time of the prediction in August 2022, the price of XRP had been in a major downtrend and was trading around $0.387.
The analyst based his prediction on a combination of Fibonnacci extension indicators, while noting that XRP price was primed for explosive growth once it breaks key resistance levels and turns it into support. Now, with the price briefly reaching $2.82, his analysis from two years ago appears to be playing out as predicted.
By reposting the original analysis, EGRAG CRYPTO reminded its followers that the price of XRP will reach double digits. “Enjoy it and see how it goes so far.” said.
What are the XRP price targets to expect?
In the analysis, EGRAG CRYPTO provided a detailed breakdown of XRP’s price trajectory using confluences of two Fibonacci extension levels. These targets include $0.60, $0.91, $1.23, $3.56, and a long-term target of $32.
As it stands, XRP price has already surpassed three of these targets ($0.60, $0.91, and $1.23), all in four weeks. If the current pace of price growth continues, XRP could easily surpass $3.56 before the end of the year and then the long-term target of $32 sometime in 2025.
At the time of writing, the price of XRP is trading at $2.62, having retreated a bit since reaching $2.82. As noted above, the price of XRP has already increased by approximately 460% in the last four weeks. Reaching the $3.56 mark would result in an additional 36% increase in the price of XRP at this point. Interestingly, this would also mean that the price would surpass its current all-time high of $3.40 in the process.
In another recent analysis, EGRAG CRYPTO highlighted that XRP price is on track to reach the price thresholds of $17 and $27. ‘#XRP – $17 or $27? – Up to you” he said.
Featured image created with Dall.E, chart from Tradingview.com
