Crypto Analyst Anticipates XRP Price Surge of 50,000% to $250, Reveals Timing
Crypto expert, Chad Steingraber, has recently made an extraordinary bullish prediction for the price of XRP, suggesting that the cryptocurrency could reach triple-digit figures. Steingraber also shared his insights on when this substantial price target might be achieved.
According to Steingraber, XRP is poised to hit $250 by 2025, marking the peak of the market cycle for the digital asset. He further projected that Bitcoin and Ethereum would reach $250,000 and $25,000 respectively during the same period, also representing their market tops.
Steingraber’s optimistic outlook on XRP stems from multiple factors he considers influential in the coin’s potential for reaching such heights. For instance, he speculates that the introduction of an XRP exchange-traded fund (ETF) could trigger significant price surges, as it would enhance the token’s usability within institutional liquidity hubs.
The crypto analyst believes that an XRP ETF would drive up demand for the digital asset, leading to a supply shock and subsequently increasing its price. Steingraber additionally points to the ongoing lawsuit between the US Securities and Exchange Commission (SEC) and Ripple as a factor hindering XRP’s price development.
Steingraber had previously highlighted that the lack of new capital inflows to XRP’s ecosystem was stifling its price. However, he remains confident that once the legal proceedings with the SEC conclude, the cryptocurrency will experience an influx of new investments and potentially soar to triple-digit values. Several prominent analysts share this sentiment, with predictions ranging from XRP reaching $100 to even $10,000 after the lawsuit settlement.
Egrag Crypto, another crypto analyst, shares Steingraber’s optimism but sets a more conservative price target for XRP in the meantime. Egrag suggests that XRP could rise to $7.5 before reaching the exponential heights forecasted by analysts like Steingraber. In a post, Egrag explains that breaking past the white triangle and attaining the measured move at $1.5 are crucial milestones for XRP’s journey towards $7.5.
Egrag emphasizes that the Fib 1.618 zone, where $7.5 is positioned, is of utmost importance. It is expected that XRP could experience considerable profit-taking and potentially face a substantial decline upon reaching this critical level. The analyst also outlines that if XRP successfully achieves a weekly close above Fib 1.618, the subsequent targets for the digital asset would be in the “mid-double digits near Fib 2.414 & 2.618.”
Overall, both Steingraber and Egrag Crypto present a positive outlook on the future price trajectory of XRP. However, as with any predictions in the crypto market, it is essential to approach these projections with caution while considering other influential factors that can impact the price of XRP.