Crypto analyst EGRAG asserts that XRP could experience significant growth by echoing the 2017 surge and following the Elliott Wave structure.
Elliott Wave Pattern and Price Projections
Analyst EGRAG identified a strong similarity between XRP's current Elliott Wave pattern and the price actions of 2017, suggesting a potential increase to $24-$110. The asset is currently in the volatile second wave, which precedes the third wave's anticipated surge.
Current Market Position and Potential Breakout
EGRAG identifies a 'just do it' formation, comparable to the Nike swoosh, within XRP's current price action, pointing to a possible breakout pushing prices to $13. Despite short-term bearish pressure, XRP remains within the broader Elliott Wave cycle.
Similarities to XRP’s 2017 Rally
EGRAG's forecast is supported by comparisons to XRP's 2017 rally. The current cycle's Wave 1 mirrors 2017's, with Wave 2's retracement being much less severe. If the pattern persists, Wave 3 could reach $22-$24.
EGRAG’s analysis suggests XRP has the potential for significant growth by following the Elliott Wave structure, should current projections hold.
