2024-5-23 09:07 |
An analysis by EGRAG CRYPTO forecasts key price targets for Ripple’s XRP, with potential values of $1.96, $2.8, $15, and $66. This prediction employs a unique method of dividing historical cycle pumps by two, based solely on general liquidity. Notably, this analysis excludes factors such as utility, decentralized finance (DeFi), and automated market makers (AMM). Consequently, these targets represent a conservative estimate.
XRP Price ForecastEGRAG CRYPTO emphasizes using past cycle data to predict future price targets. By examining the 2017 cycle, three impulsive waves were identified. Applying the divide-by-two strategy, potential price targets emerge at $1.96, $15, and $66. Similarly, using the 2021 cycle data, a target of $2.8 is predicted.
The expert advises XRP investors not to panic if the price reaches $2.8-$3.5 and then retraces significantly. They point out that historically, 70% of investors take profits at this stage, often missing out on higher price targets. The analysis encourages a long-term holding strategy, similar to holding FANGMAN stocks from inception, which has consistently outperformed trading tactics.
Investment StrategyEGRAG CRYPTO’s analysis underscores the importance of understanding market cycles and investor behavior. By focusing on general liquidity and historical patterns, this approach provides a realistic framework for price targets. While these targets exclude factors like XRP Ledger (XRPL) utility and DeFi, they offer a grounded perspective based on observable trends.
The analyst reminds investors to consider the long-term potential of XRP, much like the successful strategy of holding major tech stocks. The emphasis on steady holding over reactionary trading is a key takeaway from this analysis.
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Market Sentiment and RSI AnalysisAs previously reported by Captain Altcoin, analyst Javon Marks highlights XRP’s approach to a major converging point. The Relative Strength Index (RSI) pattern suggests strong underlying momentum, indicating a potential bullish breakout.
Marks sets a conservative breakout target of $15-$20, suggesting a possible 20x to 36x return from current levels. This projection equates to a more than 2,000% increase, echoing the sentiment of notable price appreciation.
EGRAG CRYPTO’s method of segmenting historical cycle pumps and dividing by two provides a strategic outlook for XRP investors. With price targets ranging from $1.96 to $66, this approach offers a conservative yet promising forecast.
Additionally, Javon Marks’ RSI analysis reinforces the potential for a bullish breakout, with substantial returns on the horizon. Besides, the analysts encourage investors to remain steady and consider long-term holding strategies to maximize potential gains.
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The post Top Analyst Uses Unique Model to Predict Ripple’s XRP Could Reach $66: Here’s His Outlook appeared first on CaptainAltcoin.
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