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XRP Price

Crypto Analyst Puts XRP Market Cap At $1 Trillion, Here’s What The Price Will Be

Scott Matherson
by Scott Matherson
1 year ago
·
Posted in XRP
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Prominent crypto analyst Egrag has continued to maintain a bullish stance on the XRP price. This time, he is predicting the crypto token to reach unprecedented heights in terms of its market cap and its price.

XRP Price When It Hits $1 Trillion Market Cap

In a post shared on his X (formerly Twitter) platform, Egrag sounded really optimistic about XRP’s growth when he mentioned XRP hitting a market cap of $1 trillion. Although the analyst failed to give a particular price that XRP could attain, he seemed to suggest that the token could hit new all-time highs.

Related Reading: Legal Experts Reveal Why FTX’s Sam Bankman-Fried Will Get Reduced Prison Sentence

XRP Price $1 trillion market cap

Source: X

He acknowledged the fact that the XRP price had witnessed some sort of “parabolic ascent” in the past when it apparently skyrocketed by 100,000%. However, he noted that what has happened in the past is nothing compared to what is about to happen. According to him, a 7% gain from the previous monumental rise “is not only feasible, but it’s practically a walk in the park.”

As to how soon this could happen, Egrag stated that the “influx of trillions of dollars into the XRP and XRPL ecosystem is looming ever closer.” The analyst had also previously mentioned how the ecosystem was experiencing “an exciting development” as he projected that XRP could soon begin to see “significant price explosions.”

What Is On The Horizon For XRP?

In a subsequent X post, Egrag seemed more assertive of XRP’s future trajectory. He analyzed the token’s Multi-Year Ascending Triangle (MYAT) and made some bold assertions as to what is to come for XRP. First, he mentioned that XRP appears poised to reach $1.3. Then, he stated that this significant move could lay the foundation for the XRP price to hit $5.5.

Related Reading: Ripple vs. SEC: What The Proposed Schedule Submitted On Thursday Means

When that is done, he anticipates that there will be a considerable selloff by retail investors who will probably be looking to realize their profits. However, that won’t be the end of XRP’s resurgence, as he predicts that XRP “might” see a 500% pump following that. 

Interestingly, based on Egrag’s recent ‘god candle’ price prediction, the token is already poised to hit the $1 mark and even go higher. XRP isn’t, however, expected to just rally to $1 at a go as Egrag mentioned that it could retest the price range between $0.55 and $0.58 from the $0.65 mark before rallying to a $1.

At the time of writing, the XRP price is trading at around $0.65, down over 1% in the last 24 hours, according to data from CoinMarketCap.

XRP price chart from Tradingview.com

Token price remain shaky | Source: XRPUSD on Tradingview.com
Featured image from StormGain, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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