The XRP price action in the past few weeks has been nothing but phenomenal. Particularly, the XRP price has surged by over 460% from its $0.5 range at the beginning of December to peak at $2.82 within the last 24 hours. This notable surge has brought XRP into the spotlight, with various discussions on social media and crypto trading forums around long-term predictions for the cryptocurrency.
Among the voices celebrating this achievement is crypto analyst EGRAG CRYPTO, who revisited a bold forecast made in 2022 that accurately predicted that the XRP price will reach $2.82. His recent post on the social media platform X goes further, hinting at an even more dramatic climb for the altcoin amidst the current rally.
2022 Prediction Resurfaces Amid XRP’s Bullish Rally
EGRAG CRYPTO is one of the most bullish proponents of XRP on social media. In August 2022, EGRAG CRYPTO made an ultra-bullish prediction about the XRP price, projecting a rise to double-digit figures. While this prediction may align well with the current dynamics of the price, it hasn’t always been the case. At the time of the prediction in August 2022, the XRP price had been on a major downtrend and was trading around $0.387.
The analyst based his prediction on a combination of Fibonnacci extension indicators, while noting that the XRP price was poised for explosive growth once it broke key resistance levels and flipped it into support. Now, with the price briefly reaching $2.82, his analysis from two years ago appears to be unfolding as predicted.
Reposting the original analysis, EGRAG CRYPTO reminded his followers that double digits are coming for the XRP price. “Enjoy and see how it is playing out so far,” he said.
What Are The XRP Price Targets To Expect?
In the analysis, EGRAG CRYPTO provided a detailed breakdown of XRP’s price trajectory using confluences of two Fibonacci extension levels. These targets include $0.60, $0.91, $1.23, $3.56, and a long-term target of $32.
As it stands, the XRP price has already broken above three of these targets ($0.60, $0.91, and $1.23), all within four weeks. If the current pace of price growth continues, XRP could easily break above $3.56 before the end of the year and then the long-term target of $32 sometime in 2025.
At the time of writing, the XRP price is trading at $2.62, having retraced a bit since it reached $2.82. As noted earlier, the XRP price is already up by about 460% in the past four weeks. Reaching the $3.56 mark would translate to a further 36% increase in the XRP price at this point. Interestingly, this would also mean that the price would break above its current all-time high of $3.40 in the process.
In another recent analysis, EGRAG CRYPTO highlighted that the XRP price is well on track to reach both the $17 and $27 price thresholds. ‘#XRP – $17 or $27? – You Decide,” he said.
Featured image created with Dall.E, chart from Tradingview.com
