The current market situation for XRP has led to bullish predictions for its price, with experts like EGRAG making positive forecasts. Despite the struggle to push the crypto on a price surge, EGRAG believes that a tremendous price spike is on the horizon, with the potential for XRP to reach $4 in the long term.
XRP has faced a small decline in value recently, hovering around the $0.51 mark after retesting $0.435 on April 13. This downward movement has left many enthusiasts disappointed, especially since it has not yet reached the $1 mark as predicted by analysts. However, EGRAG remains optimistic about a potential price surge in the coming months.
EGRAG’s analysis divides the price outlook for XRP into two sections: blue and yellow. The blue section suggests a narrow trajectory where XRP could reach $1.4 by June or July, with a possible price range between $1.2 to $1.8. On the other hand, the yellow section indicates a more bullish trajectory, with the potential for XRP to hit $4 by following a similar path to its 2021 movement.
EGRAG is not the only analyst with a bullish outlook on XRP. He believes that XRP could eventually reach $27 in the long term, despite its current trading price of $0.5148. However, for XRP to reach $4 by July, the bulls would need to push the crypto on a 677% increase in less than three months, which seems like a challenging feat given the current market dynamics.
Bullish Sentiment and On-Chain Metrics
On-chain metrics have indicated a potential return of bullish sentiment for XRP, as the number of wallets holding at least 1 million coins has been increasing. This surge in wallet holders could be a signal of an impending price surge for XRP in the near future.
While there are positive forecasts for XRP’s price, achieving a $4 price level by July seems like a daunting task. The volatile nature of cryptocurrencies and current market conditions suggest that modest price gains for XRP may be more realistic in the short term. Investors are advised to conduct their own research and consider the risks involved before making any investment decisions.