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Home Cryptocurrency

XRP Could See a 3,500% Rally, Says Analyst EGRAG Crypto – But Risks Remain

Gezim Osmani by Gezim Osmani
10 December 2024
in Cryptocurrency, News
Reading Time: 2 mins read
0
highlighting XRP is potential 3500 rally featuring the XRP logo glowing brightly with a soaring financial graph in th

Prominent market analyst EGRAG Crypto predicts that XRP could follow a trajectory similar to Tesla’s 2018 price movements. According to EGRAG, XRP might experience a 50% drop before embarking on a massive 3,500% rally, potentially reaching $45.6 in the long term. This comparison with Tesla’s recovery has fueled optimism about XRP’s future prospects.

Qubetics is 728x90 1 3

Table of Contents

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  • Tesla’s Recovery: A Model for XRP?
    • YOU MAY BE INTERESTED
    • Michael Saylor’s Strategy Inspires Metaplanet’s Bitcoin Surge
    • As the Market Eyes the Next Cycle, Qubetics, Polkadot, and Gala Shine as Top Cryptos to Join for 2025
  • XRP’s Potential Path
  • Opportunities and Risks

Tesla’s Recovery: A Model for XRP?

EGRAG Crypto draws parallels between XRP and Tesla’s 2018 performance. During that period, Tesla faced operational challenges, causing its stock to plummet from $25.16 in December 2018 to $11.8 by June 2019. However, Tesla rebounded strongly, regaining its previous levels by the end of 2019 and soaring to $414.50 by 2021—a staggering 3,412% increase from its lowest point.

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Similarly, EGRAG believes XRP might undergo a significant correction, followed by a powerful rally.

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XRP’s Potential Path

Following Ripple CEO Brad Garlinghouse’s recent remarks on regulatory challenges during the “60 Minutes” program, XRP experienced a sharp 25% decline, dropping from $2.61 to $1.96. EGRAG predicts that XRP could fall further to $1.30, a 50% correction, before entering a sustained upward trend.

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The long-term forecast suggests that XRP could hit $45.6 by 2027, representing a 3,500% rally. However, EGRAG cautions that this scenario is highly dependent on market conditions, Ripple’s success in regulatory battles, and broader investor sentiment.

Opportunities and Risks

While the prospect of a massive rally is enticing, EGRAG emphasizes that such predictions are far from certain. XRP’s recovery will hinge on multiple factors, including the outcome of its ongoing legal disputes and the overall health of the crypto market. Despite losing 21% of its value in the past week, XRP remains a strong contender for future growth, according to market observers.

Stay tuned for more insights and updates on XRP and other crypto news with Turkish NY Radio.

Tags: 3500% rallycrypto marketrippleTeslaXRP
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Gezim Osmani

Gezim Osmani

Senior Journalist, Content editor Hi there! My name is Gezim, and I'm a Senior Journalist covering crypto and fintech. I have a passion for technology and finance, and I've spent years following the latest trends in the industry. My goal is to make complex financial concepts accessible to my readers. I strive to provide insightful analysis and explain the latest developments in the world of crypto and fintech in a way that is easy to understand. I believe that knowledge is power, and I want to empower my readers to make informed decisions about their finances. In addition to my professional pursuits, I also love to take photos. I find that photography allows me to capture moments and emotions in a way that words cannot. Whether I'm traveling to a new city or exploring the great outdoors, I always have my camera with me. Photography is a way for me to express my creativity and connect with the world around me. When I'm not working or taking photos, I also enjoy hiking and spending time in nature. There's something about being outside and surrounded by natural beauty that brings me peace and clarity. I also love to read, and I'm always seeking out new books and articles to expand my knowledge. Overall, I'm driven by a desire to help people understand the complex world of finance and technology. Through my writing, photography, and other pursuits, I'm committed to creating content that inspires and informs my readers. I believe that everyone has the potential to achieve financial success, and I'm here to help them along the way. I would love to connect and see how we can work together to shape the future of crypto anf fintech. Let's connect and see where our shared interests and expertise can take us!

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