Despite the overall cryptocurrency market momentum running in green, XRP’s sluggish approach is concerning traders and investors.
Ripple is noting a gradual price ascent as of late, noting minor downswings in its price per CoinMarketCap. Per the platform, the token has experienced a modest uptick of 1.84% in the last month, stable at $0.5766 at press time.
However, a new noteworthy development is spurring interest in the XRP community. Egrag Crypto, a notable crypto analyst, laid down a new positive price analysis for Ripple. The analyst outlined that the token might be mimicking its 2017 “stellar” price hike, boosting its prospects to new levels.
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Ripple To Break Into A New Trend Soon?
Egrag Crypto, known for making exclusive XRP-centric predictions on X, has brought forth a new and interesting insight. The analyst shared how XRP’s candlestick chart shows the token mimicking its nostalgic 2017 price ascent.
Egrag Crypto later went on to explain the ripple price chart, elaborating on it in stark detail. The analyst noted that the token may soon break into a bullish streak if it continues to mimic its “nostalgic 2017” price trajectory.
“If this resembles Cycle ‘A’, then we could expect a rapid and aggressive price surge, akin to a rocket ship-style pump.” The analyst shared.
Egrag Crypto also shared an alternate scenario where the current Ripple chart might be projecting a new trend in its entirety.
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“However, if this aligns more with Cycle ‘B’, then we have likely surpassed that scenario, as there are no evident similarities in the patterns between the 20 SMA and 50 SMA. Alternatively, this might be something entirely new and unexpected.” Egrag Crypto noted.
Egrag’s latest price analysis has brought in a new wave of excitement in the ripple community. Several users were seen commenting on how they were eagerly awaiting his predictions to come true.
When Will Ripple Breach $1?
With several altcoins touching new ATH, the XRP price slump is concerning crypto enthusiasts. With Ripple forging new corporate alliances, XRP is bound to gain steady momentum sooner or later.
Per CoinCodex, XRP might break its coveted $1 mark by the end of 2024.
“XRP is forecast to trade within a range of $0.406734 and $1.623051. If it reaches the upper price target, XRP could increase by 180.55% and reach $1.623051.”
Additionally, the platform predicts Ripple to encounter a surge of 12% by March 26.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.660235 on March 26, 2024, gaining 12.34% in the process.”