XRP Price Prediction: Will History Repeat as XR/BTC Resembles Cycle C?

EGRAG recently discussed XRP price action against Bitcoin, predicting a surge to an XRP/BTC ratio that could lead to an ambitious XRP target.

Popular crypto market commentator and YouTuber EGRAG recently shared his latest XRP (XRP) price analysis, focusing on a crucial support zone and its potential impact on XRP's future price trajectory.

In the latest analysis, EGRAG highlighted a key support zone in the XRP/BTC chart, which he has dubbed the "YOLO Band." This zone is currently serving as a launchpad for XRP/BTC, presenting traders with both opportunities and risks. The name "YOLO Band" is derived from the acronym "You Only Live Once," emphasizing the high-stakes nature of this price level.

EGRAG marked the YOLO Band in yellow on the chart, showcasing areas where past cycles have encountered turning points. XRP/BTC is currently testing this zone, and according to EGRAG, a close below 0.00000667 would be bearish. However, an upside breakout holds massive potential.

At the time of writing, the pair is sitting near 0.000008, with the last trade price being 0.00000777. This is below the important 0.00001 mark, which EGRAG highlights as a potential launch point.

XRP tested the 0.00001 level in late September, but encountered strong selling pressure at the time, which prevented a breakout above it. According to the analysis, this price region is crucial, as crossing the range would require a massive surge, which the analyst describes as a "megathrust move."

EGRAG also pointed out historical market cycles in his attempt to predict XRP's future price movements. He highlighted three distinct cycles on the chart, labeling them Cycle A, Cycle B, and Cycle C.

Cycle A, which began in July 2014, featured a series of consecutive bullish candles, as can be seen in the chart shared by EGRAG. Meanwhile, Cycle B is notable for what the analyst termed the "Mega God Candle," which was a massive green candle that pushed XRP/BTC to a peak of 0.000245 in May 2017.

Lastly, the market analyst noted that Cycle C marked a phase where XRP saw a substantial breakthrough, with the XRP/BTC pair experiencing a sharp rally and reaching a ratio of 0.00003909 in May 2021.

EGRAG suggested that the current market setup in the XRP/BTC chart closely resembles these past cycles, especially Cycle C, which saw a powerful candle breakout. The implication is that XRP/BTC is preparing for another breakout, which could propel the pair to the 0.000022 price level in the near term.

EGRAG's chart shows XRP trading within a descending channel. According to the analysis, once XRP/BTC breaks out of this channel, it will likely reach 0.00017, which would mark an epic price rally for XRP.

Should this scenario unfold, EGRAG outlined how XRP price could skyrocket based on potential Bitcoin price milestones. If Bitcoin manages to reclaim the $70K level while the XRP/BTC pair is at 0.00017, XRP could hit $12, setting a new all-time high.

Moreover, if the firstborn crypto breaches the $70K region and claims a new all-time high at $100K, then XRP would reach a price of $17 at the XRP/BTC ratio of 0.00017. However, this scenario would also depend on other factors, such as the BTC pair maintaining its strength throughout.

Continuing with his analysis, EGRAG stated that if Bitcoin manages to reach a price of 0.00017 XRP/BTC, then XRP would be trading at a price of 22 if BTC reaches 130K. Also, at a Bitcoin price of 160K BTC, XRP's price would be 27.

Despite the bullish scenario, EGRAG also highlighted a potential bearish signal, noting that failure to hold the 0.00000667 mark could indicate bearish momentum. According to the analysis, a close below this threshold might indicate a deeper retracement for XRP/BTC.

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