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Analyst Egrag Crypto has made a daring forecast that the XRP value can hit a $1.5 trillion market capitalization. He elucidated how the altcoin may achieve this benchmark by referencing technical signals, which indicate the potential move from its current market cap to a $1.5 trillion market cap.
How the XRP Value Can Achieve $1.5 Trillion Market Capitalization
In an X post, Egrag Crypto conveyed that the Logarithmic movement could propel the XRP price to around $1.5 trillion market cap, surpassing the Fib 1.618 by about $500 billion. Simultaneously, the Non-Logarithmic movement will estimate the altcoin at around $270 billion, aligning with the Fib 1.618.
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The crypto analyst noted two potential growth levels by analyzing the earlier cycle, transitioning from Fib 1.0 to Fib 1.618. He anticipates a 242% growth and a 600% growth. He subsequently highlighted four possible targets from the lowest to the highest. The first being the anticipated XRP price increase to a $270 billion market cap in accordance with the non-logarithmic measured movement.
The second target is a 242% XRP price surge to a $450 billion market cap, supporting the previous cycle’s trajectory from Fib 1.0 to Fib 1.618. The third target is another 242% increase to a $978 billion market cap. Meanwhile, the surge to a $1.5 trillion market cap is the final target, defined by the Non-Log W pattern measured movement for optimal potential.
Egrag Crypto emphasized what the XRP price could become based on its existing circulating supply of 58.68 billion if it attains these market cap targets. The altcoin’s price would be $4.60, $7.66, and $16.65 upon reaching the $270 billion, $450 billion, and $978 billion market caps, respectively. Meanwhile, XRP would reach $25.56 if it achieves the $1.5 trillion market cap milestone.
Additional Analysis Supporting This Price Forecast
In another X post, Egrag Crypto predicted that the XRP price could fall between $13 and $22 based on his review of the altcoin’s annual chart. He remarked that Candle 13 will be the breakout candle, leading to the surge to $13 or $22, with the wick possibly extending even higher.
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He mentioned that by examining Candle 9, the 2021 annual candle, with its comprehensive movement of an 800% increase, applying this growth to Candle 13 suggests an XRP price target around $17. He added that this aligns flawlessly between Line 1 at $13 and Line 2 at $22. Notably, Egrag Crypto has also predicted that the altcoin could surge to $27 within 60 days, aligning with the $1.5 trillion market cap projection.
At the time of writing, the XRP price is trading at approximately $2.28, experiencing a decline over the past 24 hours, as per data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
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