Crypto Market Analyst Predicts 1,500% Pump for XRP Despite Correction

Popular crypto market analyst Egrag Crypto has forecasted a significant price pump for XRP. Egrag believes a 1,500% price increase for the world’s third-largest crypto by market cap is possible. A 1,500% increase would take XRP from its current 2.47 to 39.52.

An XRP pump of Egrag’s predicted magnitude could set the tone for a bull run in the crypto sector. When major assets like Bitcoin (BTC) rise, they carry several others along, with pumps also recorded en masse.

Crypto investors may prepare for this pump by looking through early picks for the next 100x coin to spread their portfolio in anticipation of a pump. These coins are expected to rise along with major assets in the market because of a combination of factors, including offering holders exclusive access to market presales, low transaction fees, fast payment speeds, and the opportunity to earn via staking.

According to Egrag’s prediction, the Bull Market Support Band (BMSB) shows a pump is possible. The analyst explained in an X post that the BSMB indicates whether the market is in a bull run or a bear market. Going by the indicator, XRP is set for a jump despite the current low price.

Egrag also backs up his forecast using historical precedent. The X post notes that XRP in 2017 touched the “Purple Foundation” in the chart, and nearly reached the BMSB. At the time, XRP went on to spike by 1,500% in 4 weeks. The analyst’s chart shows that XRP has now touched the Purple Foundation and hit the BSMB. Egrag has offered a $27 target.

Another analyst, Javon Marks, believes that XRP could hit $99 in a potential breakout that is currently “shaping up extremely similar to 2017.” Marks points out that XRP’s price recently met its all-time high, which became a new resistance level like in 2017. The analyst now predicts a much bigger jump at 3.900%.

However, not everyone is as optimistic. In response to Egrag, trader and analyst CryptoStorm refuses to believe XRP could hit $27 without “a massive burning of tokens mechanism.” According to CryptoStorm, XRP’s market capitalization at $27 would be astronomical. With the total supply at 100 billion, the market cap could hit $2.7 trillion and make XRP one of the world’s highest-valued assets, larger than most established companies and the GDPs of several countries. CryptoStorm concludes:

“This scenario would require not just token burning but also a surge in demand or utility that justifies such a valuation. Stop dreaming and come down to Mother Earth!”

Considering XRP’s recent performance, the near future looks uncertain as the asset is down 23% over the last seven days. However, factors like the launch of KuCoin Pay with XRP support, as well as a potential XRP ETF could be advantageous for the asset.  A few major asset managers, including Bitwise and WisdomTree, have already submitted applications to the United States Securities and Exchange Commission (SEC) through the Cboe BZX Exchange, for XRP ETFs. In addition to improving XRP liquidity, an approved ETF could contribute to the bullish forecasts from Egrag and Marks.