Analyst Says XRP Price Could Reach $30 by Repeating 2017 Trend

XRP Price Prediction: Analyst Eyes $30 Surge as 2017 Pattern Reappears

XRP price can be pegged for a record-breaking breakout as an extended Symmetric Triangle pattern in 2017 on the charts. Looking at history, a cryptocurrency analyst predicts that if the same parabolic move happens, it will see the altcoin surge to an incredible $30.

EGRAG CRYPTO, a cryptocurrency analyst, has released a new technical analysis for the altcoin. He highlights a long-term symmetrical triangle formation and bases it on its previous performance during the 2017 market cycle.

Instead of basing his analysis on the traditionally measured move out of the triangle, the analyst uses the last major rally as the main foundation for a possible breakout in this current cycle.

Based on EGRAG CRYPTO, XRP rose around 2,600% during its 2017 rally. This recent move is the reference in the latest forecast. If the price were to duplicate that historic gain, the price would get close to the $30 mark, which coincides with the analyst's primary target.

The double target

EGRAG, an analyst, also provided an excellent chart with a symmetrical triangle and bullish pennant as double targets. The mechanism indicates a breakout from both the patterns; hence, upward continuation is confirmed, guaranteeing a positive perception of the targets being attained.

This chart explains the logic of applying the extent of the previous rally as a reliable predictive instrument, especially in patterns where there is price compression and then explosive movement. This chart also serves to distinguish between the conventionally measured moves and the other method employed in this analysis.

What's Next for Ripple?

At present, XRP's all-time high stands at $3.84. A possible surge to $32.36 would be an astronomical 741.6% increase, sending its price to a level way above its record high.

EGRAG CRYPTO ended the post by affirming faith in the potential of XRP breaking $30 if 2017 cycle conditions repeat. The altcoin has witnessed several bullish indications over the recent past, and EGRAG CRYPTO requested the XRP army to pay attention to the current cycle, as he believes great things from the digital currency.