Prominent crypto analyst Egrag has continued to maintain a bullish stance on the XRP price. This time, he is predicting the crypto token to reach unprecedented heights in terms of its market cap and its price.
XRP Price When It Hits $1 Trillion Market Cap In a post shared on his X (formerly Twitter) platform, Egrag sounded really optimistic about XRP’s growth when he mentioned XRP hitting a market cap of $1 trillion. Although the analyst failed to give a particular price that XRP could attain, he seemed to suggest that the token could hit new all-time highs.
Source: X He acknowledged the fact that the XRP price had witnessed some sort of “parabolic ascent” in the past when it apparently skyrocketed by 100,000%. However, he noted that what has happened in the past is nothing compared to what is about to happen. According to him, a 7% gain from the previous monumental rise “is not only feasible, but it’s practically a walk in the park.”
As to how soon this could happen, Egrag stated that the “influx of trillions of dollars into the XRP and XRPL ecosystem is looming ever closer.” The analyst had also previously mentioned how the ecosystem was experiencing “an exciting development” as he projected that XRP could soon begin to see “significant price explosions.”
What Is On The Horizon For XRP? In a subsequent X post, Egrag seemed more assertive of XRP’s future trajectory. He analyzed the token’s Multi-Year Ascending Triangle (MYAT) and made some bold assertions as to what is to come for XRP. First, he mentioned that XRP appears poised to reach $1.3. Then, he stated that this significant move could lay the foundation for the XRP price to hit $5.5.
When that is done, he anticipates that there will be a considerable selloff by retail investors who will probably be looking to realize their profits. However, that won’t be the end of XRP’s resurgence, as he predicts that XRP “might” see a 500% pump following that.
Interestingly, based on Egrag’s recent ‘god candle’ price prediction, the token is already poised to hit the $1 mark and even go higher. XRP isn’t, however, expected to just rally to $1 at a go as Egrag mentioned that it could retest the price range between $0.55 and $0.58 from the $0.65 mark before rallying to a $1.
At the time of writing, the XRP price is trading at around $0.65, down over 1% in the last 24 hours, according to data from CoinMarketCap.
Token price remain shaky | Source: XRPUSD on Tradingview.com Featured image from StormGain, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.