Analyst EGRAG Predicts XRP to Soar 2,829% to $15

Renowned analyst EGRAG has projected a remarkable increase in the value of XRP, forecasting a staggering 2,829% rise that could see the cryptocurrency reach a target price of $15. This prediction is derived from his Bent Fork model, which consists of four components: Major Historical Support, Ranging Zone, Mid-Cycle Top, and Cycle Top.

As of the latest updates, XRP is operating within the Major Historical Support track, forming a White Ascending Triangle. This pattern has been established since May 2022, following a decline from a peak of $0.9121 in March. Although XRP bulls managed to break above this triangle in July, the price subsequently faced a corrective pullback.

Despite ongoing efforts by bearish traders to push XRP below this triangle, they have not succeeded. EGRAG interprets this resilience as a positive sign for the future performance of the cryptocurrency. The analyst anticipates an imminent breakout occurring between the third and fourth weeks of November, potentially presenting the last chance for investors to acquire XRP at lower rates.

Following this anticipated breakout, EGRAG believes that XRP will move through the remainder of his Bent Fork model’s tracks, eventually reaching the Cycle Top and achieving the projected price of $15.

Recent gains for XRP, which reached $0.5121, were attributed to a significant legal victory against the SEC involving key executives Brad Garlinghouse and Chris Larsen. This success has given a short-term lift to the cryptocurrency’s market value.