XRP, the native asset bridging global payments across Ripple’s high speed blockchain network, shows growing signs of an imminent trend change back into bull market-positive territory, both technically and fundamentally.
Top analyst EGRAG Crypto makes the case for an eventual trillion-dollar XRP market capitalization during the next cycle phase, implying a 10X upside or more.
What you'll learn 👉
Revisiting the 2017 Gains Offers Roadmap for 2023/24
With XRP gaining renewed momentum following months of bear trend attrition, analyst EGRAG Crypto reexamines past precedents to forecast the next upside targets.
Specifically, he notes XRP’s staggering 100,000%+ surge in 2017 initially represents just 7% of the current required breakout toward the technically important Fibonacci extension at $5.50 based on the prior peak value.
“Achieving a 7% gain from the 2017 cycle is extremely achievable this time,” EGRAG concludes, eyeing $5.50 as the next key marker en route to an ambitious $1 trillion market cap. Compared against the prior bull cycle peak around $3.30, this target implies almost 10X returns from sub-$0.40 levels.
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Show more +Decisive Breakout Signals Trend Reversal
Bolstering the fundamental case, analytics platform altFINS highlights an extremely constructive technical breakout now unfolding for XRP against its multi-month downtrend.
“Price has broken out from a Channel Down pattern and above $0.55 resistance, which could signal bullish trend reversal, with +24% upside to $0.68.” The initial measured move upside projection aligns with Fib resistance around $0.68.
Notably, increased volume flows confirm a high-conviction push beyond the established bear channel – opening upside continuation toward far greater recovery targets.
Source: altFINS – Start using it today
Confluence of Metrics Support Bullish Outlook
While the devastating crypto winter severely tested even the most steadfast XRP believers, tangible signals of on-chain and technical revival present compelling reasons for renewed optimism in the long-term investment thesis.
If the network can continue attracting liquidity and customers leveraging its payment rail advantages over outdated cross-border money transfer incumbents, substantial adoption and valuation multiple expansion appear feasible this cycle for one of crypto’s most polarizing yet persistent assets.
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