Analyst Hints at XRP Price Surging for Third Time, Market Cap to Reach $2.61 Trillion
Major Surge Predicted for XRP: Analyst Anticipates “3rd Kaboom”
A respected crypto analyst, EGRAG CRYPTO, has sent shockwaves through the XRP community with a recent tweet hinting at an imminent seismic shift in the XRP market, dubbing it the “3rd Kaboom.” EGRAG CRYPTO’s analysis suggests a significant breakthrough in XRP’s market cap, potentially propelling its price to unprecedented heights.
To understand the basis for this prediction, EGRAG CRYPTO has meticulously studied XRP’s monthly price movements, paying close attention to its relationship with the 21 Exponential Moving Average (EMA). Notably, XRP’s price has been closely following this average, resulting in relatively stable monthly candles.
According to EGRAG CRYPTO, the key event to watch out for is what he refers to as the “Kaboom” or “God Candle.” This event often serves as a strong indicator of a significant shift in market sentiment and may heavily impact XRP’s price trajectory.
Taking a look at past patterns, a retrospective analysis of XRP’s monthly chart reveals notable milestones during previous “Kaboom” events. The first “Kaboom” witnessed a remarkable surge in XRP’s market cap, soaring from $142.66 million to $2.59 billion, coinciding with an all-time high of $3.60 in 2017.
Following that, the second “Kaboom” in 2021 drove XRP’s market cap to $13.56 billion, with the price nearly revisiting its previous peak at $3.45 after a correction.
Based on the current data, EGRAG CRYPTO identifies indications of a potential third “Kaboom” forming on XRP’s monthly chart, with the market cap currently standing at $28.25 billion. The analyst predicts a breakthrough that could propel XRP’s market cap from $283.4 billion to an astonishing $2.61 trillion in the future.
In terms of XRP’s price analysis, zooming in on the hourly chart reveals that the cryptocurrency has established a local support level around $0.49. If the daily closing price approaches or surpasses $0.5105, a breakout above resistance becomes plausible, with a target of the $0.53 zone.
Alternatively, if the price remains comfortably above $0.53, bullish sentiment could strengthen, potentially driving XRP towards the $0.58-$0.62 range by the end of the week. Currently, XRP is trading at $0.52, showing a slight surge in the last 24 hours, with a market cap of $28.49 billion.