🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Xrp Forecasted to Rally 783% Despite Multi-Year Downtrend

Published 2023-10-03, 09:26 a/m
© Reuters.
XRP/USD
-

The cryptocurrency XRP, currently enduring a multi-year downtrend, is predicted to experience a significant rally, according to an analytical post by EGRAG. Despite XRP's current price of $0.5095, marking a 2.27% drop in the last 24 hours as of Tuesday, EGRAG's analysis suggests a potential 783% rally for the digital currency, targeting the first $1.5 and eventually reaching $4.5.

The forecast is based on XRP's historical pattern of minor and major rallies, referred to as Mini and Mega ATs in the analysis. This pattern was discernible in the 'XRP Daily Chart' featured in EGRAG's post.

EGRAG's projection comes after XRP experienced a correction from $0.7900 on November 24, 2020, to $0.1700 on December 29, 2020, during the SEC lawsuit. However, following the lawsuit victory, XRP was trading at $0.93 on July 13.

The predicted rally represents a potentially transformative shift for XRP, which has been battling a downtrend for several years. The forecast suggests that despite recent setbacks and volatility, there may be substantial growth ahead for this cryptocurrency.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.