Analyst Predicts XRP Could Surge 1,000% Against Gold Index

Analyst Egrag Crypto predicts a potential rise of XRP by 1,000% against the Philadelphia Gold and Silver Index, similar to its performance in 2017.

A Looming Crypto Run

Egrag Crypto highlights key indicators suggesting a bullish trend for XRP:

XRP could outperform the Philadelphia Gold and Silver Index.
The analysis focuses on the XRP/XAU pair rather than USD.
If XAU decreases in USD terms, XRP's value in XAU will increase.

Current Setup Mirrors 2017 Rally

Egrag notes that current conditions may reflect those of the 2017 rally:

Current price action is in a ranging mode.
Three green candles observed, reminiscent of 2017.

Egrag estimates that if XRP repeats past performance, it could reach $28.5, with a market cap of $1.64 trillion, assuming the Philadelphia Gold and Silver Index remains at $167.39.

Altcoin Bounces Off

XRP has shown recovery after a recent decline, bouncing from an equilibrium phase, indicating bullish momentum.