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- XRP analyst forecasts $18, $27, or $200 in next cycle.
- Regression model shows strong 85% correlation with XRP price action.
- Market eyes critical midpoint as XRP prepares for major move.
According to crypto analyst EGRAG CRYPTO, XRP is approaching a decisive stage that could define its next major cycle. His analysis highlights three possible outcomes, with price targets of $18, $27, or even $200.
The prediction is constructed using a regression model on the long-term chart of XRP. The model quantifies the price movement within a channel and analyzes the frequency with which XRP touches the upper limit. Traders can track a distinct trend, as XRP has hit the top of the band three times historically.
In one instance, XRP exceeded the forecast by an unbelievable 570 percent. In the other cycle, XRP missed by 45 percent compared to the upper line. The resultant contrasts established a framework within which XRP can either miss, hit, or overshoot in the next cycle.
https://twitter.com/egragcrypto/status/1960606730485739807
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Possible Price Targets
Currently, XRP is trading in the middle of the regression. If it reacts to the upper edge once more, the price might shoot up to $27. A recurrence of the last deficit would reduce the expectations to about $18. A similar overshoot to the preceding cycle may catapult the token to a high of up to $200.
A R-squared of 0.84754 by the model further lends credence to the analysis. This value reveals that the regression model can account for almost 85 percent of the historical price movement of XRP. The prediction is tied to such a high correlation, but volatility in the market remains a critical factor.
Cycles and Market Outlook
EGRAG CRYPTO concentrated on the structure of cycles as well. The past cycles were based on the number of bars and days and were similar. Such repetition gives a guideline of the way the current cycle might unfold, and it helps traders to look out in the market.
Analysis shows that XRP has a broad spectrum of results. Investors are currently awaiting whether the token will go to $18, $27, or even $200. As the regression model demonstrates high historical accuracy, the next cycle will determine the long-term course of XRP.
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