Analyst EGRAG CRYPTO predicts that if XRP breaks below the crucial $0.38 Fibonacci level, it might plummet as low as $0.10; however, he also thinks that a Black Swan event would be necessary for an 80% collapse.
EGRAG CRYPTO is usually positive on XRP and doesn’t want to sell until higher price objectives are reached, despite investigating negative situations.
The analyst has previously projected large price increases for XRP, with possible valuations of $1.12, $1.40, and even $27—though the latter would necessitate a huge increase in market capitalization.
Is an Eighty Percent Collapse Possible?
The X (Twitter) user EGRAG CRYPTO anticipated another gloomy possibility, despite several cryptocurrency analysts lately seeing a bright future for Ripple’s native token and its probable price growth towards a new all-time high.
XRP Price Forecast: Is a $0.10 Crash Looming on the Horizon?,XRP Price Forecast: Is a $0.10 Crash Looming on the Horizon?
They believe that if XRP breaks below the crucial $0.38 Fibonacci mark—which has effectively functioned as a resistance level for the previous seven months—it might go as low as $0.10. Additionally, EGRAG CRYPTO hinted that conventional financial entities, like hedge funds, banks, and institutional investors, would “deliberately crash the price to snatch up XRP to bargain levels.”
An 80% collapse, the researcher found, looks “unlikely” and is only achievable in the event of a Black Swan occurrence.
The Positive Predictions
It is important to note that EGRAG CRYPTO has a largely optimistic outlook on XRP and has made many noteworthy price predictions.
The most recent prediction they made was that the coin would see a “God candle” at the start of 2024, which could raise its value to $1.12.
Earlier, the researcher identified $1.40 and the astounding $27 as potential future prices. It is important to note that XRP’s market capitalization would need to soar beyond $1.4 trillion in order for there to be a second rise. Considering that the industry’s total market capitalization was over $3 trillion during the height of the bull run in 2021, this seems improbable.
XRP Price Forecast: Is a $0.10 Crash Looming on the Horizon?,XRP Price Forecast: Is a $0.10 Crash Looming on the Horizon?,XRP Price Forecast: Is a $0.10 Crash Looming on the Horizon?