XRP to Top at $26.5 By the End of This Bull Run: Analyst

A market analyst called $26.5 as the XRP cycle top in a base bull run case, insinuating further price movement in a bullish market condition.

A market analyst has predicted that XRP will hit $26.5 in a base bull run scenario, suggesting that the price will rise further on a bullish run.

A crypto expert claims that XRP price predictions are not made out of thin air or assumptions, but are derived through sophisticated technical analysis. The analyst said in a recent tweet that his guess (like some others) is based on Fibonacci levels.

Doctor Magic noted an unspecified controversial comment on an analyst’s post predicting that XRP would trade between $8 and $13. The expert said that while some users have inferred exaggerated price speculations from market researchers, they are simply stating what the XRP charts are showing.

After laying out his argument, the expert made a higher price guess than the criticized analyst. Doctor Magic states that XRP will reach $26.5 by the end of this bull run.

XRP will reach a maximum of $26.5

However, he noted that this is a base case scenario for the asset, suggesting that XRP could perform better than speculated prices if it were under a more bullish market bias. The base case is an average scenario in which the market performs mediocrely when calculated based on specific variables.

Doctor Magic further stated that if the 2017 bull run were to repeat, his XRP price prediction would be fully affected. He suggested that altcoins led the cryptocurrency market rally during the aforementioned bull run, outperforming Bitcoin.

Notably, Bitcoin appears to be leading the way in the current bull run, which is attributed to increased demand for the asset from outperforming exchange-traded funds (ETFs). Since the Bitcoin spot ETF debuted in the U.S. market in January, it has received a cumulative net inflow of US$17.37 billion, holding 4.65% of the market value of Bitcoin.

Analyst: No prediction of market resumption in 2017

Doctor Magic clarified that he is not saying that the current bull run will be a repeat of 2017. The analyst noted that if this were the case, he would predict that XRP would reach $241.

XRP gained 48,823% during the 2017 bull run, outperforming major assets like Bitcoin and Ethereum. At XRP’s current price, a similar increase would take the asset to $276.8. The market expert said he takes price decline into account when making his price forecasts.

As of press time, XRP is trading at $0.5663, with a market capitalization of $31.7 billion.

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