Cryptocurrency market analysts have released new forecasts for XRP prices based on historical charts and Fibonacci levels, predicting significant asset growth in the near future.
Pepa's Historical Pattern Analysis
An analyst known as Pepa, who has been active in the cryptocurrency space since 2013, highlighted a formation on the XRP price chart that mirrors previous market cycles. He pointed to a long-term descending trendline that started after XRP reached a high of $0.20 and fell to $0.004. During that cycle, the token eventually broke the descending resistance and rose to $0.39 by May 2017. Following a period of consolidation, the token peaked near $3.40 in January 2018. According to Pepa, a similar trend began after XRP's 2018 peak of $3.40, and he expects the token may target $23.94 again, representing a gain of over 930% from the current price.
XRP Market Cap Forecast from EGRAG Crypto
Another analyst, EGRAG Crypto, focused on the market cap trajectory of XRP rather than price analysis. He identified a W-shaped structure typically associated with potential bullish breakouts. From this formation, EGRAG projects a more conservative price of around $4.50, which would correspond to a market cap of $270 billion. EGRAG also presents a more ambitious scenario, suggesting that if XRP follows a logarithmic growth pattern, its market cap could rise to $1.5 trillion, implying a potential token price of $25.
Overall Conclusions and Future Predictions
Both Pepa and EGRAG Crypto's analyses suggest a significant potential upside for XRP. Their forecasts are based on recurring historical price structures and market cap modeling. If market conditions align with their outlined predictions, XRP could be positioned for substantial gains in the future.
Both analyses emphasize the potential for significant price changes for XRP if the market moves in accordance with the analysts' forecasts.
