Echoes of 2017: XRP’s Potential Path to Triple Digits
Renowned crypto analyst EGRAG CRYPTO has unveiled a bullish forecast for XRP, suggesting the cryptocurrency may replicate its historic 2017 rally. According to a detailed chart analysis, XRP appears to be following a similar Elliott Wave pattern that previously propelled its price to an all-time high of $3.84. This time, EGRAG projects a two-phase surge: first to **$27, then an eventual peak near $120**.
The Elliott Wave Breakdown
- Wave 1 (2024-2025): XRP’s initial surge to ~$3.4, mirroring the 2017 impulse.
- Wave 2 (2025 Correction): Current retracement to ~$2, forming a consolidation phase.
- Wave 3 (Summer 2025): Expected extension to $27, leveraging a 161.8% Fibonacci ratio.
- Wave 4 (2025-2028): Multi-year correction potentially bottoming at $5.50.
- Wave 5 (Post-2028): Final bullish leg targeting $120, completing the long-term cycle.
👉 Discover how XRP’s technicals compare to Bitcoin’s cycles
Why $120? The Long-Term Technical Thesis
EGRAG’s $120 target derives from measured move calculations:
- Wave 5 Extension: Typically equals 61.8% of Waves 1+3 combined.
- Historical Precedent: Similar fractal behavior observed in 2017’s parabolic rally.
- Market Cycles: Aligns with projected crypto bull markets post-Bitcoin halving events.
At its current price of $2.19, XRP would require:
- 1,132% growth to hit $27.
- 5,380% growth to reach $120.
Key Factors Supporting the Rally
- Institutional Adoption: Ripple’s expanding partnerships with financial entities.
- Network Activity: Recent 67% spike in XRP transactions (source).
- Regulatory Clarity: Potential resolution of Ripple’s SEC lawsuit.
FAQs: Addressing Investor Queries
1. How reliable is Elliott Wave theory for crypto predictions?
While subjective, it’s widely used to identify cyclical patterns. Historical accuracy in XRP’s 2017 rally lends credibility to current projections.
2. What could derail this $120 target?
- Prolonged bear markets
- Regulatory crackdowns
- Failure of Ripple’s adoption strategy
3. How does XRP’s utility factor into price growth?
XRP’s role in cross-border payments could drive demand, but speculative trading often outweighs utility in short-term price action.
4. When should investors expect the $27 milestone?
EGRAG’s model suggests mid-2025 if Wave 3 develops as projected.
Conclusion: A High-Risk, High-Reward Proposition
EGRAG CRYPTO’s analysis presents a compelling case for XRP’s long-term potential, though investors should note:
- Volatility: Crypto markets are inherently unpredictable.
- Time Horizon: The $120 target may take 5+ years to materialize.
- Due Diligence: Always cross-verify analyses with fundamental metrics.
For real-time tracking of XRP’s progress, explore tools like 👉 OKX’s advanced charts.
Disclaimer: This content is for educational purposes only and not financial advice. Cryptocurrency investments carry substantial risk—always conduct independent research.