XRP Price Could Rally 2,700% to $45 if 2017 Bull Run Repeats

Crypto analyst Egrag Crypto has predicted that the XRP price could rally to as high as $45 if it mirrors a bullish price movement from the 2017 bull run. The analyst also raised the possibility of the altcoin at least touching $19 if it replicates the 2021 price action.

In a post, Egrag Crypto predicted that the XRP price could rally to $45 if it mimics the 2017 cycle. He noted that in 2017, the price found heavy support at the 21 Exponential Moving Average (EMA) and experienced a last blow-off top. This blow-off top led to a price surge of 2,700%, which the analyst believes could lead to XRP’s rally to $45 if the 2017 bull run repeats itself. Meanwhile, Egrag Crypto predicts the altcoin could at least touch $19 if a similar price movement like the 2021 bull run occurs.

He noted that in 2021, the price breached the 21 and 33 EMA and then pumped in a final leg that marked the cycle’s blow-off top. During this period, XRP surged by 1,050%, which the crypto analyst believes could lead to a rally to $19 if history repeats itself. The analyst added that his target has always been $27 and advised market participants to DCA if necessary.

In the short term, the XRP price looks to be eyeing a rally to $5. A market analysis revealed that the Hidden Road acquisition may lead to $10 billion in volume to the XRP Ledger, which could push the altcoin to this target.

XRP’s on-chain metrics also paint a bullish outlook for the altcoin, with the number of wallet addresses hitting a new all-time high (ATH) recently. This indicates that Ripple’s native crypto is enjoying wider adoption.

Crypto analyst BarriC asserted that the XRP price could hit $1,000, although he admitted that it would “absolutely” take time. He claimed it will take a utility run and mass adoption to drive XRP to this price target. The analyst added that it would also take a big shift in the financial space for the altcoin to reach this $1,000 level. Essentially, BarriC believes something massive has to happen for XRP to reach this target. However, once they do, he assured that there is no going back.

An analyst has suggested that XRP could potentially reach $45 if it follows the patterns observed in 2017. This prediction is based on the historical price movements and technical indicators that have been noted in the past. The analyst points out that XRP has shown a curving bottoming structure, which could signal the end of its bearish trend after 777 days. This pattern is similar to the one seen in 2017, where XRP managed to find important support at the 21 EMA level, which then led to a rapid increase in price once it exceeded the 21 EMA and 33 MA.

The analyst also highlights that if XRP mimics the 2017 or 2021 cycle, it could rally by 2,700% or 1,050% to hit $45 or $19, respectively. This prediction is based on the historical data and key technical indicators that have been observed in the past. The analyst encourages investors to employ a dollar-cost averaging (DCA) strategy to avoid certain risks and fluctuations that are common in the cryptocurrency market. This strategy allows investors to buy a fixed amount of XRP at regular intervals, regardless of the price, which can help to smooth out the effects of volatility over time.

The analyst also notes that the next several months will be crucial in determining whether XRP will continue its cycle movement or shift to other regions. Investors are advised to maintain a cautious approach but remain alert for any signs of a potential breakout. The analyst's forecast is based on the historical price movements and technical indicators, and it is important to note that past performance is not indicative of future results. Investors should conduct their own research and consider their risk tolerance before making any investment decisions.