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Crypto analyst Egrag Crypto has been one of the most prominent and vocal about their bullish stance on the XRP price. This has not changed even with the market fluctuations as the analyst has, once again, doubled down on his ultra bullish predictions for XRP.
XRP Price To Reach $27
Egrag Crypto shared his $27 XRP price prediction in a post on X (formerly Twitter) following Judge Analisa Torres rejecting the United States Securities and Exchange Commission (SEC) motion for an interlocutory appeal.
Not only this, the well-known crypto analyst in the XRP community also points to its applications. Ripple has been actively involved in the cross-border payments sector, and like any others, Egrag believes that this is something that could drive the XRP price to reach the ultra-bullish price target of $27.
The analyst had previously predicted that the altcoin would cross $20 in a previous post on X. This was after XRP had completed multiple bullish formations on its chart, leading to multiple high price point predictions from him.
#XRP Only 2500%:
If you can’t see the incredible potential of #XRP in the chart below, especially when breaking through MYTL, then I’m afraid there’s little more I can do to convince you.#XRPArmy STAY STEADY and do not forget that we have clarity for GOD’s sake. pic.twitter.com/S1097h4ujS
— EGRAG CRYPTO (@egragcrypto) September 12, 2023
XRP jumps 4% following Judge Torres's ruling | Source: XRPUSDT on Tradingview.com
It Is Not All Rosy
Despite remaining very bullish on the XRP price, Egrag Crypto had some warnings for his over 36,000 X followers. According to him, investors have to keep the broader financial landscape in mind, which goes beyond just XRP and crypto. “Some technical analysts are predicting a 40%-50% downturn in both equity and stock markets. The question then arises: how might this impact the world of cryptocurrencies?” Egrag said.
In the same vein, Egrag expects a conservative movement but he advises his followers to continue to hold firm. “#XRParmy, STAY STEADY, I’m firmly on board with the exciting $27 journey, but we must also be prepared for the unexpected, which might just put #XRP’s legendary nickname, “The Rise of The Phoenix,” to the test!” the analyst said.
Addressing the forecasts of other financial analysts, Egrag expressed confusion at those who have predicted that traditional financial markets are headed for a collapse, and yet expect the crypto market to stick to its established four-year cycle. As the analyst explains, “It’s imperative to maintain a consistent and non-contradictory thesis when assessing these scenarios.”
Interestingly, Egrag has called on other prominent crypto analysts to look at the chart that he shared and to drop their own thoughts around it. “I’m seeking the wisdom and insights of some incredible individuals whom I deeply respect,” he said. “Help me and the #XRPCommunity to understand this chart and unearth valuable perspectives.”
Analyst calls on peers to review chart | Source: X
Featured image from Crypto News, chart from Tradingview.com