XRP has become the talk of the town, starting from SEC case getting resolved to Trumps announcement to add it into US crypto reserve, everyone has their own views and price predictions. Recently, XRP price prediction are on rise, with most of them being highly bullish, one such is from EGRAG CRYPTO who sees $222 as the target.
XRP had a big jump today, rising more than 4% to $2.44. However, its 24-hour trading volume dropped 38%, settling at $8.0 billion.
Lately, XRP has been all over the place, falling below $2 before bouncing back. But despite all this, EGRAG CRYPTO, believes XRP is about to explode in value, predicting a future price of $222 if past trends repeat.
According to the analyst, XRP is currently in a “Kangaroo Phase”, which basically means the price is bouncing up and down. But the overall trend is bullish. Moreover, XRP is holding on to a support level, which is a good sign.
Looking back at XRP’s massive rally in 2017, he explained that the price first hit a 1.618 Fibonacci extension level before skyrocketing. If the same thing happens again, XRP could first hit $8.50 to $13, then $27, before making the big leap to $222.
According to the analyst, XRP is currently in a “Kangaroo Phase”, which basically means the price is bouncing up and down. But the overall trend is bullish. Moreover, XRP is holding on to a support level, which is a good sign.
Looking back at XRP’s massive rally in 2017, he explained that the price first hit a 1.618 Fibonacci extension level before skyrocketing. If the same thing happens again, XRP could first hit $8.50 to $13, then $27, before making the big leap to $222.
A lot of people doubt that XRP can reach such a high price, mostly because of concerns about market cap. But EGRAG CRYPTO shut down those doubts, saying, “Market cap is a flawed measurement when it comes to real utility-driven assets.” In short, he believes XRP’s real-world use and adoption will be more important than traditional valuation methods.
One of the biggest issues holding XRP back is the SEC lawsuit against Ripple. But this might finally be coming to an end. A legal expert recently stated the case might be resolved by this month.
The SEC has already dropped multiple crypto lawsuits lately, which has made investors more optimistic. If Ripple gets a favorable outcome, XRP’s price could get a huge push.
