The post Ripple News: XRP Price to Increase by a Staggering 9600% – Here’s The Timeline appeared first on Coinpedia Fintech News
Egrag Crypto, a renowned cryptocurrency expert, recently forecasted a potential meteoric rise in Ripple’s XRP value. He anticipates a staggering 9600% hike, mapping out his timeline on Twitter.
#XRP A color code signal indicates the path to Valhalla:
Currently, we remain in the accumulation zone until we break through the lower yellow region. Conviction is needed for #XRP to enter the white area. Until then, a drag is possible until Q1 2024.
There’s still potential… pic.twitter.com/Ay85b558Mt
— EGRAG CRYPTO (@egragcrypto) June 13, 2023
Sounds great, but are his arguments strong enough? Let’s explore.
The Journey to Valhalla
Egrag’s color-coded prediction charts a journey to the metaphorical “Valhalla” for XRP. However, according to his observations, the cryptocurrency is currently in a holding pattern, awaiting a breakthrough from the lower yellow region of his schematic.
XRP needs a robust thrust to push into the white region of Egrag’s chart, and until that momentum is achieved, he believes the digital asset might linger in its current position until the first quarter of 2024.
Despite the current plateau, the crypto analyst maintains an optimistic outlook. He envisions the potential for XRP to make its first significant leap towards the lower echelons of the “Valhalla” range, anywhere from $2.8 to $4.6.
This upward move would represent Wave 1 in Egrag’s broader schema. After accomplishing this initial boost, he suggests a possible brief correction down to $1 before XRP embarks on an arduous journey toward Wave 3.
Wave 3 To Be The Game Changer
In his analysis, Egrag outlines that Wave 3 is typically 1.618 times the length of Wave 1, and can occasionally reach up to 2.618 times its size. Based on this theory, he estimates a future valuation of $12 for XRP at 1.618 and a massive leap to $50 if the 2.618 prediction materializes. That would be an increase of nearly 10,000%.
Egrag’s bold predictions did not go without skepticism. One Twitter user, presumably an XRP holder, expressed doubts, citing the recent price drop in response to the Hinman document release instead of the anticipated rise. In response, Egrag urged patience, reiterating that XRP is still in the early stages of a potentially remarkable ascent.
As of the time this article was being written, XRP has suffered a 4.00% decrease in value over the past week, and the current value of XRP stands at $0.507446.
Will Egrag Crypto’s bold predictions become a reality? We can only hope! Stay tuned to Coinpedia for all the latest updates.