Analysts Tylie Eric and Egrag Crypto foresee a significant price surge for XRP, drawing parallels to the 2017 rally and projecting new highs. Despite current market volatility and legal challenges, optimism remains high among analysts.
A crypto analyst has predicted a potential major rally for XRP, the native token of the XRP Ledger (XRPL). Analyst Tylie Eric, in a post made this June, suggested that XRP could see a substantial increase in its price, similar to its 2017 rally. Utilizing the Elliott Wave Theory, Eric indicated that current price movements for XRP mirror those seen during the significant upsurge in 2017, which eventually led to an all-time high of $3.84 in early 2018.
Eric projects that XRP could rise to a new high of $36.36 by the end of 2024, which would require the cryptocurrency to undergo a 7,637.22% price surge from its current value. As of now, XRP is trading at $0.45, reflecting decreases of 4.12% over the last 24 hours and 11.71% over the past month. The decrease follows a bearish trend attributed to market volatility and Ripple’s ongoing legal issues with the United States Securities and Exchange Commission (SEC).
Another crypto analyst known as Egrag Crypto has also seen similar bullish patterns and forecasted a price surge to $27, advising investors to be prepared. As it stands, despite recent declines, there remains optimism among analysts regarding XRP’s future price potential.
