The XRP Price Target 2024 forecasts a potential surge to $27, drawing insights from past market cycles and the cryptocurrency’s growing role as a digital asset. In addition to this, the analyst offered some explanations as to why XRP could achieve such an aggressive price objective.
The price of XRP may reach as high as $27 before the end of the year, according to Egrag Crypto. To demonstrate why XRP may achieve this goal, the cryptocurrency expert referenced the cryptocurrency’s previous performance. During the near term, the analyst said that two price levels should be kept an eye on: $2 and $2.65.
XRP Price Surge Prediction
Egrag Crypto said in an X post that XRP could hit $27 during this market period. The expert used numbers to show that the cryptocurrency could reach this price goal. First, the Crypto expert discussed when XRP crossed the 21 Exponential Moving Average (EMA) in two weeks. This event caused the cycle to top in 2017 after a huge 50,000% rise. Using the same method to look at the current price movement, an XRP crossing of the 21 EMA to $27 would mean a 4,770% price increase.
A price rise like this would be only 9.54% of the 50,000% jump seen in 2017. The people at Egrag Crypto are sure that XRP can hit this price goal because it saw a bigger move in 2017. Based on past trends, this isn’t the first time the thCryptoto expert has said that XRP could hit such high levels. A recent market study by Btcnewz showed that the price of XRP could hit at least 10 dollars as it rises to 10 dollars.
In addition to the RLUSD stablecoin and other Ripple collaborations, this bullish outlook is supported by fundamentals. This kind of price increase is also possible. Paul Atkins, who will soon take over as head of the Securities and Exchange Commission, abandoned the action against Ripple. Undeniably, the Ripple has contributed to a decrease in the currency’s price.
XRP Price Short-Term
In another X piece, Egrag Crypto talked about what people think the price of XRP will be in the short run. The expert said everything else is just noise until XRP does one of these things. He said that $2 was a very important level. The expert said the coin would go down if it fell below that level. The expert did say, though, that fireworks will “ignite” over $2.65. But, a break above this line would prove that prices are increasing.
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Summary
Cryptocurrency expert Egrag Crypto says that the XRP Price Target 2024 could increase to $27 during this market cycle. He bases his XRP Price Target 2024 prediction on past price changes and important trading levels. According to Egrag, $2 and $2.65 are key levels to monitor for the XRP Price Target 2024. If XRP falls below $2, the price may decrease, but a break above $2.65 would trigger a significant move upward.
Many people in the Crypto community point to XRP’s past success, especially its rise in 2017, as proof that it could go up even more. A new market study by Btcnewz also supports a strong view, saying that XRP could hit $10. The price of XRP could also be affected by Paul Atkins, who will be head of the SEC. This could happen if the case against Ripple is dropped. The RLUSD stablecoin and Ripple’s work together strengthens this positive view.
