Crypto Analysts Predict XRP Price to $28

Bittime - Ripple's XRP is back in the spotlight in the world of digital assets. A well-known analyst predicts that the XRP coin has the potential to surge to $28.5 in the next few months. 

This prediction is based on historical patterns and comparisons with the Philadelphia Gold and Silver Index. Is this prediction realistic? Let's take a deeper look.

According to market analyst Egrag Crypto, the XRP coin could experience a significant surge against the gold and silver index. 

In his latest analysis, he compares the performance of XRP with the Philadelphia Gold and Silver Index (XAU), suggesting that this digital asset has the potential to rise by more than 1,000% in the near future.

The analyst refers to the pattern of XRP price movements that occurred in 2017, where prices rose sharply in a short period of time. 

If this trend repeats itself, the price of XRP could reach unprecedented levels. In addition, macroeconomic conditions and the increasing adoption of XRP as a cross-border payment solution are key drivers.

Read also: XRP Price Prediction Today February 18

The Influence of the Gold and Silver Index on XRP

Egrag Crypto highlights that the XRP/XAU pair can provide important insights into the potential surge in XRP prices. 

If the price of gold (XAU) falls against the USD, the value of XRP in XAU will increase. This means that the movement of gold can have a direct impact on the dollar value of Ripple's XRP.

The current movement of the XRP price shows a pattern that reflects the 2017 rally, with three consecutive green candles. If this pattern is truly repeated, then XRP could experience a huge surge.

XRP Market Capitalization and Price Target

Currently, the XRP market capitalization is around $155 billion. Using technical analysis methods, Egrag Crypto calculates that if the 2017 historical pattern repeats, the XRP market capitalization could surge to $1.64 trillion. If this happens, the price of XRP could reach $28.5 per coin.

This calculation is based on the value of the Philadelphia Gold and Silver Index, which is currently at $167.39. 

With a 1,000% increase scenario on the XRP/XAU pair, the value of XRP in the index could reach $9.83 billion, which would ultimately contribute to a surge in the price of XRP to $28.5.

Read also: Grayscale files official XRP and Dogecoin ETFs with SEC

XRP's Bullish Momentum

In addition to fundamental and technical analysis, bullish momentum is also visible in the XRP price chart. Egrag Crypto shows that XRP has bounced from the equilibrium zone and experienced a strong recovery after falling to $1.7 last month.

XRP market cap currently at $155 billion. Chart: TradingView.com

Technical signals such as the Exponential Moving Average (EMA) show an increasingly strong upward trend. If this momentum continues, Ripple's XRP could soon head for higher prices in the next few months.

Conclusion

The prediction of the XRP price to $28.5 based on historical and technical analysis does sound ambitious, but it is not impossible. 

With market conditions increasingly supporting the adoption of XRP as a major digital asset and bullish momentum growing stronger, there is a possibility that XRP will experience a significant surge. 

However, as with investing in other digital assets, volatility remains a factor to be taken into account.

For those of you who are interested in XRP coin, always do in-depth research and monitor market developments before making investment decisions. With a better understanding, you can be better prepared to face market changes and take advantage of opportunities.

FAQ

Can XRP reach $28?

According to the latest analysis, XRP has the potential to reach $28 if the 2017 uptrend repeats and its market capitalization increases significantly.

What affects the price of XRP?

The price of XRP is influenced by market adoption, regulation, the movement of other digital assets, and technical analysis such as that carried out on the gold and silver indices.

Is XRP a promising investment?

The potential for XRP to rise is still open, but like other digital assets, investing in XRP is high risk and influenced by market volatility.

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Reference

newsbtc.com, XRP Set To Outshine Gold? Analyst Predicts 1,000% Surge, accessed February 18, 2025.

Author: AWW