- XRP could mirror the 2017 cycle, with $27 followed by a surge to $120, according to Egrag’s forecast.
- Egrag predicts XRP’s “Wave 4” phase could last three years, with a potential for triple-digit prices.
- Investors remain bullish on XRP’s future, expecting double-digit prices before the end of Wave 3.
XRP is currently approaching its fundamental development stage; investors assert that the token still holds potential for a 2017-type performance. The cryptocurrency is currently in “Wave 3” of its cycle, according to Egrag, which is expected to end this summer in the double-digit mark. Egrag identifies the next phase as “Wave 4,” a phase that is expected to be complete within the next three years.
XRP’s Market Fluctuations and Cycles
According to the analyst, such a market consists of fluctuations before entering a bear market in this phase. This would be followed by consolidation, which would then open the opportunity of a new cycle that could bring tokens to three figures. Egrag’s forecast has attracted attention as he compares the current XRP cycle to that of 2017, which was characterized by fluctuation of price.
The initial projection for breaking a high is at $2,7, which will be followed by a steep rise to $120. The forecast for the future cycle suggests that it may be similar to the one observed in 2017. He also states that the different phases might be either thicker or thinner than in the past, so the time needed for them is also uncertain.
Source: X
XRP’s value remains a subject of focus, especially given this new perspective into the crypto’s future in the following years. The expectations before the beginning of Wave 4 lie in the fact that many investors are expecting the cryptocurrency to rise to double digits before the end of Wave 3. The additional interest in the movement of coin in the market has contributed to the general sentiment of the potential of XRP in future returns.
XRP’s Potential for $120
Market participants are also interested in reaching $120, and this has made people believe that cryptocurrency has a lot of potential in the future. If the market is to go in accordance with the prediction, then the experience was just the start of a new bull run cycle for the cryptocurrency market. Traders are notably observing the upcoming phases to check whether it will follow these phases as predicted in trading. As of press time, the Ripple token is trading at $2.16, showing a 4.26% decline over the past day.
Source: TradingView
The outlook for the token is fairly bullish over the longer term, with the potential for much higher nominal value in the year ahead. As far as phases’ timing is concerned, it is not very clear, yet the events give hints of an XRP replicate of the 2017 cycle. Many investors and traders are eager to see whether the cryptocurrency will indeed follow this path.