Renowned crypto analyst – @egragcrypto believes that the native token of Ripple – XRP, is on the verge of an 800% rally.
He claims that XRP will skyrocket from current levels to $5.50 in just 14 days.
Ripple is Preparing For a New Rally
@egragcrypto’s prediction is an addition to a previous prediction made in May. At the time, XRP was trading at $0.4639, and the analyst gave three price targets: $0.85 to $1, $5.5, and $6.1 in the coming months.
A few weeks after this, important events occurred in the Ripple ecosystem , and XRP became the only crypto asset to receive clear status from regulators in the United States. As a result, the token began to increase in price , updating the yearly highs at $0.93 and fulfilling the first target of @egragcrypto.
The chart shows that the next target is around $5.5. The analyst claims that XRP will reach this mark in a two-week timeframe. He explained:
“The ‘Final Wake Up Line’ is gauging the next #XRP breakout. Once #XRP breaks it and retest it without breaking Fib 0.236 (0.45c) on the Weekly Time frame then I can say with high degree of certainty that Fib 1.618 ($5.5 – $6.4) is within reach.”
How Realistic Does This XRP Prediction Look?
A rise to $5.5 would represent an 800% increase in price from current levels by the end of the year. However, current fundamentals indicate that the forecast is unlikely to come true .
Although XRP is currently trading below the first target level of $0.85, @egragcrypto believes that there are high chances of an epic crash before the rise . The analyst also clarified that the forecast was not based on the next two weeks: according to him, “the rally will be completed in just two weeks.”
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