XRP Price Predicted to Rally to $27, Surpassing All-Time High
A crypto analyst is making a bullish prediction for the XRP price, expecting it to rally to $27, well above its previous all-time high. The analyst, known as ERGAG CRYPTO, believes that XRP’s price was suppressed during the last bull run due to an ongoing lawsuit from the SEC against Ripple Labs, the creator of XRP.
While other cryptocurrencies like Bitcoin and Ethereum reached new all-time highs, XRP struggled to keep up due to concerns about the lawsuit’s impact on the project’s future. However, a federal judge in the United States has recently determined that the programmatic sales of XRP do not constitute the selling of securities, indicating a positive outcome for Ripple Labs.
With the lawsuit potentially coming to an end with a settlement in sight, ERGAG CRYPTO predicts that XRP will make up for lost time and experience a significant price surge. The analyst suggests that the XRP price could rally 40 times from its current level to $27, coinciding with the Fibonacci 1.618 indicator from the 2017 peak to the 2020 bottom.
Although the exact timeline for the next bull run is unknown, ERGAG CRYPTO speculates that it could happen around mid-2024.
One day for sure. But suggestion March – May 2024 will be fire works.
— EGRAG CRYPTO (@egragcrypto) October 26, 2023
XRP’s Current Position in the Crypto Market
The entire crypto market has been experiencing gains since mid-October, and XRP is no exception. While its price is relatively low compared to other altcoins, XRP remains one of the strongest in terms of market capitalization, currently occupying the 5th spot.
ERGAG CRYPTO has previously made optimistic price predictions for XRP, suggesting that it could easily surpass its previous all-time high of $3.84 in the next bull market. The analyst had initially predicted that XRP might not reach a new all-time high until July 2028.
Overall, the future looks promising for XRP, with the potential for a significant price rally in the coming years.
Featured image from iStock, chart from Tradingview.com
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