Renowned crypto analyst EGRAG CRYPTO has painted a bullish outlook for XRP, suggesting that the cryptocurrency could be on the verge of an explosive surge. The primary driver behind this optimism is attributed to XRP’s “unparalleled legal regulatory clarity,” stemming from the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
The SEC lawsuit, currently in the penalties phase, has seen Ripple secure three consecutive victories, fueling optimism in the XRP community. EGRAG CRYPTO envisions multiple scenarios for XRP’s trajectory based on the lowest price of the current cycle, $0.28.
XRP’s Prediction
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Scenario A (40x Surge): The analyst predicts a potential 40x surge from $0.28, propelling XRP to an impressive $11.
Scenario B (50x Surge): Taking it a step further, EGRAG CRYPTO explores a 50x surge, projecting XRP to reach $14.
Scenario C (ETH Comparison): Drawing a parallel to Ethereum’s previous cycle, where it surged 58x, the analyst suggests that XRP could hit $16.
Scenario D (BTC Comparison): Even with a conservative approach, replicating Bitcoin’s surge of 21x could still push XRP to $5.88, significantly surpassing its all-time high.
#XRP 40X EASY:
Last cycle, despite the pesky #SEC lawsuit, #XRP surged almost 20X. This time, with its unparalleled legal regulatory clarity, the potential for a 40X or even 50X boom seems promising!
Let's crunch some numbers from the cycle low to visualize the possibilities:… pic.twitter.com/SayC9gsJkv
— EGRAG CRYPTO (@egragcrypto) January 3, 2024
EGRAG CRYPTO remains confident in XRP’s ability
Despite these ambitious targets, the analyst sets an even higher goal of $27, representing a staggering 96x surge from the cycle bottom of $0.28. EGRAG CRYPTO remains confident in XRP’s ability to achieve this remarkable milestone.
Ripple’s legal victories, particularly Judge Analisa Torres’ ruling in July, declaring non-institutional sales of XRP as non-securities sales, provided crucial clarity on XRP’s security status. This landmark decision led to a surge in XRP’s value, reaching $0.93.
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XRP now stands as the only altcoin in the U.S. with legal clarity, fostering numerous partnerships for Ripple, including discussions with the Australian Freight and Trade Alliance (FTA).
While XRP is currently trading at $0.58, up 1% in the last 24 hours, the momentum is attributed to market speculation around the SEC’s stance on spot Bitcoin ETF applications. With XRP more than doubling from its cycle low, the cryptocurrency could sustain this momentum into the 2024 bull run, potentially reaching EGRAG CRYPTO’s ambitious target. Investors are eagerly watching as XRP’s legal battles and market dynamics unfold, anticipating the potential for substantial gains in the coming months.