A recent forecast by economist EGRAG CRYPTO based on linear regression suggests that the price of XRP could rise to $200. However, the current market situation presents a different reality.
New Regression Model and Its Reality
The model developed by analyst EGRAG CRYPTO employs linear regression on a logarithmic scale with two standard deviations applied to XRP's monthly price chart. EGRAG assessed the model's reliability using an R-squared value of 0.84754, indicating a very strong historical correlation. The analyst noted that XRP had previously reached the upper bound of this model three times, albeit with one miss in 2021.
Price Movements and XRP Outlook
At the time of writing, XRP was trading at around $3.00, showing a marginal gain of 0.2% over the last 24 hours. Over the week, the token fluctuated between $2.81 and $3.11, consistently failing to break through the $3.1 to $3.3 resistance band. However, it did show positive performance over a 30-day period, increasing by 4.9%.
Financial Results and Markets
XRP also exhibited growth of more than 420% over the past year, partly due to its historic high of $3.65. However, for the $200 forecast to materialize, not only historical anomalies are needed but also shifts in network adoption and market structure, which current data does not prove.
While the $200 forecast is optimistic, actual market conditions demand further evidence for its realization.
