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.
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