Is XRP Due for a 30,000% Surge? Analysts weigh in

The indicator considers previous price movements of XRP that led to increases of 47,000% and 700%.

XRP may be poised for an explosive rally that could shoot up its price by 300% to 30,000% in the near future. XRP’s potential to reach this threshold was recently highlighted by Egrag, a prominent cryptoanalyst, using a key indicator that has proven reliable over the years.

In his latest analysis, Egrag pointed out a phenomenon observed with the 100 moving average (MA), 200 moving average and 300 moving average in the 2-day time frame.

#XRP The next Kaboom 💥💥💥💥💥:

Definition of Kaboom:
When 100 MA on 2D time frame crosses 200 MA and consecutively crosses 300MA.

The first Kaboom pumped #XRP around 47,000% from the cross.

The other Kaboom pumped #XRP around 700% from the cross.

How… pic.twitter.com/Y4ffyClHIH

— EGRAG CRYPTO (@egagcrypto) 28 April 2023

In particular, it was observed that whenever the 100 MA breaks above the 200 MA and then crosses above the 300 MA, XRP has always staged a massive rally that has boosted its price by unprecedented scales. Egrag called this phenomenon “Kaboom”, trying to refer to explosive growth.

The phenomenon occurred in late 2017 and ultimately resulted in a 47,000% increase in XRP’s value. The rally entered the first months of 2018, leading to XRP’s all-time high on January 4, 2018. This remains the biggest rally by XRP to date.

The bullish crossover was also observed in early 2021 at a time when XRP had plunged from its 2018 highs and was trading below the $0.3 price range. Notably, XRP rose from a price of $0.22 in January 2021 to a peak of $1.96 in April 2021, marking a massive 763% increase in 3 months.

XRP may soon observe the cross

XRP has only witnessed two such massive waves since its inception, and the cross immediately preceded both waves. Egrag pointed out that the cross is about to happen again, and the asset’s price can skyrocket by 300%, 3,000% or 30,000% without specifying a fixed rate.

Instead, he let the audience predict what they thought would be the most reasonable price. Some proponents suggested a 30,000% increase if Ripple vs. SEC the lawsuit ends with a favorable verdict for XRP. It is worth mentioning that XRP’s dramatic 760% increase in April 2021 happened despite the legal pressure from the SEC lawsuit.

Meanwhile, XRP is trading at $0.4792, up 6.16% in the last week. The asset recently recovered from a low of $0.44 on Wednesday. At a time when XRP was consolidating to $0.50, Egrag had meant that it is possible to drop into the $0.43 territory. He noted that such a fall would be bullish as XRP would plunge to this point not to return to it.