Crypto analyst EGRAG CRYPTO has recently provided valuable insights into the future trajectory of XRP, shedding light on potential price movements in the coming months. The current focus is on XRP’s journey toward the $1.4 mark, with key milestones. The analyst suggests that the next pit stop for XRP will likely see it reaching levels between 0.73-0.75 cents, followed by a subsequent swing low at 0.55-0.58 cents.
XRP Bulls Forecasted for February 2024 Surge
Looking ahead to February 2024, EGRAG CRYPTO envisions XRP surpassing the $1 mark, specifically targeting $1.10. This milestone is anticipated to mark the initiation of a bullish trend, opening doors to significant multiplier factors such as 10X, 20X, 30X, and potentially beyond.
However, caution is advised as the journey to $1.4 may not be smooth. The analyst predicts a temporary setback, with a potential dip to 0.75-0.80 cents. This anticipated dip is attributed to the selling hype surrounding the BTC SPOT ETF. If this event unfolds as a selling-the-news scenario, investors should be prepared for a ride extending into July to September 2024.
The significance of the 0.80-0.85 cents range is underscored as a MACRO Resistance level for XRP, reiterated in several previous posts by EGRAG CRYPTO. This range is expected to be crucial in shaping XRP’s price dynamics in the long term.
Looking at the broader cryptocurrency market, XRP is anticipated to surge in tandem with the BTC SPOT ETF, reaching all-time highs (ATH) by March 2024. The widespread market frenzy during this period could propel XRP to touch levels between $2.2 and $2.8. However, investors are advised to brace themselves for a potential market rug pull in the later part of 2024, from November Q4 to Q1 2025.
The analyst emphasizes the complexity of the current market cycle, attributing it to the involvement of Wall Street entities and banking institutions. The analyst warns that retail investors may face challenges, stating that this game is for the big players who are not here to cater to the weak or average. The Wall Street mafia and bank-esters are portrayed as ruthless players who lure the unsuspecting and subsequently slaughter them.
The XRP community, often called the XRPArmy, is urged to stay steady amidst the impending challenges. While victory is predicted in the long run, EGRAG CRYPTO acknowledges that the journey will not be easy, given the formidable presence of the big players from Wall Street and the banking sector.
However, as of the latest data, the current price of XRP stands at $0.620780, with a 24-hour trading volume of $1.66 billion. The market cap of XRP is reported to be $33.60 billion. Over the last 24 hours, XRP has experienced a decrease of 1.90%.
Related Reading | Crypto Scam Alert: Singapore PM Warns Against Deepfake Fraud