Ripple Gears Up for a New Upward Trend
EGRAGCRYPTO latest forecast builds upon a previous prediction made in May. Back then, XRP was valued at $0.4639, and the analyst set forth three price targets: $0.85 to $1, $5.5, and $6.1 in the imminent months.
Subsequently, pivotal developments unfolded in the Ripple ecosystem a few weeks later, and XRP secured exclusive regulatory recognition in the United States. Consequently, the token initiated a price surge, reaching yearly highs at $0.93 and successfully hitting EGRAGCRYPTO initial target.
#XRP Mid-Term Target (0.85c – $1 – $5.5 – $6.4):
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)… pic.twitter.com/xzPMi7b7FN
— EGRAG CRYPTO (@egragcrypto) May 22, 2023
The chart now points to the next objective, hovering around $5.5. The analyst contends that XRP will attain this milestone within a two-week timeframe, elucidating:
“The ‘Final Wake Up Line’ is assessing the next XRP breakout. Once XRP breaks it and retests it without breaching Fib 0.236 (0.45c) on the Weekly Time frame, then I can assert with a high degree of certainty that Fib 1.618 ($5.5 – $6.4) is within reach.”
Assessing the Feasibility of the XRP Prediction
A climb to $5.5 would signify an 800% surge from current levels by year-end. However, prevailing fundamentals cast doubt on the likelihood of the forecast materializing.
Related: XRP Set to Surge to $22 in the Upcoming Bull Market Rally
Despite XRP presently trading below the initial target of $0.85, EGRAGCRYPTO suggests a potential significant downturn before the anticipated upswing. The analyst clarifies that the forecast doesn’t hinge on the next two weeks; according to him, “the rally will be completed in just two weeks.”
