Cryptocurrency analyst Egrag Crypto predicted that the price of XRP would raise by 8,400% to $44. Interestingly, the analyst suggested that the cryptocurrency could still reach approx higher target price, calling the $44 price level “conservative.”

XRP price will reach $44

Egrag Crypto predicted in X’s post that XRP price reaches $44. He highlighted this price level as one of the conservative targets based on the current cycle and the Fib channel. The $44 price level is a target level based on the 0.702 Fib channel. The other price targets he mentioned were $13 and $27, based on the 0.5 and 0.618 Fib channels, respectively.

The analyst is confident that the price of XRP will reach these target prices. He claimed that since the cryptocurrency’s inception, the chart indicated that the market could expect pumps to Fibonacci channel levels. Egrag Crypto also suggested that XRP will hit these price targets in this running of the bullsclaiming that this is what the chart shows.

Egrag calling these price targets conservative also means that the price of XRP could continue to rise amid a bull market. The analyst didn’t give any other price target, but other analysts like it Javon Marks predicted that crypto could reach triple digits. Marks recently predicted that XRP could go up to $200.

The analyst stated that the cryptocurrency broke out in favor Pennant pattern for over six years. He argued that you could send a hold of this gap and proceed logarithmically XRP to $200which means a price raise of over 30,000%.

Signs expects XRP price will reach $3.3 in the brief term, close to the current all-time high (ATH) of $3.8. The analyst explained that since 2022, the cryptocurrency has confirmed a lot hidden bull divergence and is well on its way to killing the bull.

According to him, a bull breakout will lead to a price raise of over 450% when XRP reaches the $3.3 range. He added that this price break could be just the beginning, especially since he believes the cryptocurrency will still reach $200.

Worst case scenario

Among these bullish forecasts for XRP priceEgrag Crypto also revealed the worst-case scenario for cryptocurrencies in this market cycle. He he claimed that XRP would at least reach between $2.3 and $5.89 in this bull run, and he offered two reasons why he thinks the cryptocurrency can at least hit those price targets no matter what.

First, he noted that after this, XRP managed to achieve a 10x raise from the bottom U.S. Securities and Exchange Commission (SEC) withdrew the lawsuit in December 2020. He stated that XRP could easily hit the $5 to $5 range if a similar situation follows SEC appeal. He added that the cryptocurrency could reach the Fib 1.618 level at around $6.50.

Secondly, he mentioned that the price of XRP could reach $2.31 and $2.88 if Bitcoin price is reaching $80,000 and $100,000, respectively. He expects XRP to mirror BTC’s move, as it did during the 2021 bull run.

Featured image created with Dall.E, chart from Tradingview.com