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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Gaming The System: Pundit Reveals Why XRP Price Will Reach $33

Scott Matherson
Scott Matherson
1 year ago
3 mins read
XRP Price

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A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle.

Analyst Forecasts Exponential Rise In XRP Price

In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” 

Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000

Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” 

This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. 

Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. 

Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages.

It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. 

Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. 

Possible Price Correction Ahead Of Projected Surge

In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. 

Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000

Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP.  

XRP price chart from Tradingview.com

Token price at $0.5 | Source: XRPUSDT on Tradingview.com
Featured image from Watcher Guru, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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