Crypto Analyst Predicts XRP Could Repeat History, Hitting $124 Price Mark

Cryptocurrencies have always been marked by their dynamic nature, where digital assets can surge to unimaginable heights or plunge into unexpected depths. 

Recently, a prominent crypto analyst has made a bold prediction, suggesting that XRP could repeat history and potentially skyrocket to a staggering $124 price mark. 

This forecast has sparked excitement and curiosity within the crypto community as investors eagerly assess the potential implications of such a significant surge for XRP.

Looking at how XRP has fared in the past, one could identify patterns or trends to inform expectations about its future price movements, adoption, or market dynamics.

Egrag Highlights Potential Price Projection for Ripple

Recently, a prominent crypto analyst and market watcher Egrag revealed a potential price projection based on technicality and rationality for XRP. The analysis suggests a strong possibility of XRP’s price increasing soon. 

According to the analysis, there are two potential scenarios for this increase: one is a surge to $10, and the other is a much larger surge to $124. Egrag believes that Ripple (XRP) has an advantage over other assets due to its potential legal clarity.

From this rational viewpoint, the analyst underscores the possibility of XRP being the sole asset to possess comprehensive regulatory clarity. 

According to Egrag, such a scenario could trigger a significant surge in its price. Egrag’s technical analysis of XRP involves examining price projections using trading proverbs and historical patterns. 

Egrag identified a crucial Fibonacci level of 1.618 within this analysis, located at the $10 price point. This suggests that XRP has the potential to experience a surge of up to $10, potentially capitalizing on a wave of bullish sentiment.

XRP Reaching $10 Price Requires 1,920% Rally, While $124 Target Demands 24,950% Surge

Based on XRP’s current price mark, it would need a massive of 1,920% to reach the anticipated price of $10. Also, a significant surge of 24,950% is required from XRP to hit the projected price of $124.

It is important to note that XRP experienced a significant surge in the past, skyrocketing from $0.00564 in August 2013 to a peak of $2.47 in December 2017.

This massive price movement represented an impressive 43,695% increase over three years. Egrag’s recent analysis primarily focuses on this historical price movement. 

Nevertheless, it is important to highlight that although XRP achieved comparable gains previously, there is no guarantee of a 249.5x price surge in the future.

As of the time of writing, Ripple is trading at $0.4952, representing a notable 24-hour increase of 2.3%. Notably, the war between XRP, its founding company Ripple and its executives is still raging without a summary judgment yet.