-
A well-known crypto market analyst has set a long-term bullish price target for XRP and Ethereum.
According to market analyst EGRAG Crypto, XRP can go as high as $31 and Ethereum could reach $8,000. He used Fibonacci extension levels to come to this prediction. The outlook draws on similarities in both assets' multi-year price cycles.
Ethereum to hit $8,000
EGRAG points out that Ethereum's chart has seen the same cycle as it did from 2018 to 2020, where the coin reached a high of $1,420 before crashing to $88. Fibonacci extensions range between $623, $1,413, $4,405, and between $7,700–$8,000 at the 1.618 extension.
The potential for a breakout from an inverse head-and-shoulders structure that has formed since 2021 reinforces the bullish case for ETH with a potential break-up target of $8,000 and would have a market capitalization of nearly $965.6 billion.
XRP to skyrocket to $31
XRP's chart has an almost identical trajectory, peaking at $3.31 in January 2018, then dipping to a low of $0.114 in March 2020, before consolidating for what seems like years, until it finally broke out in November 2024.
Based on this move, the Fibonacci extensions would suggest targets at $3.52, $15.23, and $31.34. EGRAG has stated that the massive contracting triangle from 2018 to 2025 for XRP confirms this long-term target.
At $31, XRP would be valued at nearly $1.84 trillion.
Longer cycle outlook
EGRAG criticized the hypocrisy of people who think Ethereum is going to $15,000–$20,000 but can't seem to get their XRP predictions to match those targets. "The same math applies”, he said, pointing out the similarities between the structures on both charts.
The analyst also allowed for the possibility of a prolonged cycle, saying it is possible for the crypto market to continue to stretch until 2028, with a major top happening late 2025 and then a pullback happening in 2026.
At present, XRP trades around $2.85 while Ethereum is priced near $4,327.69, both recovering after a slight pullback.
FAQ
What is XRP?
XRP is a digital asset created by the team behind Ripple Labs in 2012 to enable fast, low-cost international payments. It is designed as a bridge currency for transferring value across different fiat currencies and payment networks.
Why is XRP considered different from Bitcoin or Ethereum?
Unlike Bitcoin, which is mined, XRP was pre-mined with a total supply of 100 billion tokens. Transactions on the XRP Ledger settle in seconds with low fees, making it more suited for cross-border payments than Ethereum or Bitcoin, which often have higher costs and longer confirmation times.
What is the long-term price outlook for XRP?
Analysts like EGRAG Crypto have suggested Fibonacci-based targets as high as $31, though XRP has faced regulatory challenges, including a high-profile lawsuit with the U.S. SEC. Its future value will depend on adoption, market cycles, and clarity around regulation.
This article has been published in thestreet.com via Yahoo News.
