Crypto Analyst Predicts XRP Price Could Reach $27 and $120
XRP is projected to potentially reach $120, according to crypto analyst EGRAG CRYPTO. The analyst shared a chart indicating a bullish outlook for XRP, drawing parallels with the 2017 rally. Key points include:
- The previous bull cycle saw XRP surge from under $0.01 to an all-time high of $3.84.
- The current trend resembles the 2017 structure, with XRP in the second wave of an Elliott Wave formation.
- Wave 1 is characterized by a predicted rise to $3.4 between Q4 2024 and January 2025.
- A correction to approximately $2 has occurred since January.
- Wave 3 is expected to begin forming next, targeting over $27 by summer 2025.
- A potential three-year Wave 4 correction may bring prices down to around $5.50.
- Following this, Wave 5 could propel XRP into triple digits, aiming for a peak of $120.
- XRP is currently trading at $2.19, reflecting a 2% increase in the last 24 hours.
