{"id":194542,"date":"2023-10-04T11:39:29","date_gmt":"2023-10-04T11:39:29","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194542"},"modified":"2023-10-04T11:39:29","modified_gmt":"2023-10-04T11:39:29","slug":"will-xrp-price-defy-a-50-stock-market-crash-analysts-weigh-in","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/will-xrp-price-defy-a-50-stock-market-crash-analysts-weigh-in\/","title":{"rendered":"Will XRP Price Defy A 50% Stock Market Crash? Analysts Weigh-In"},"content":{"rendered":"<p>The financial world is abuzz with speculations on the resilience of cryptocurrencies amidst potential global financial upheavals and a looming recession in the United States. XRP, with its unique standing, has become the centerpiece of these discussions, following a series of comments and analyses from renowned crypto analyst Egrag Crypto.<\/p>\n<h2>XRP Price Amid A 50% Stock Price Crash<\/h2>\n<p>On X (formerly Twitter), Egrag took a comprehensive look at the six-month chart of the XRP price, presenting two scenarios that couldn&#8217;t be more different: a crash to $0.017 and a rally to $27.<\/p>\n<p>The analyst emphasized XRP&#8217;s pioneering nature due to the remarkable degree of legal clarity it offers, setting it apart from other digital assets. &#8220;The current state of XRP offers a remarkable degree of legal clarity, making it a pioneering digital asset in terms of regulatory acknowledgment,&#8221; Egrag stated.<\/p>\n<p>This legal acknowledgment, combined with its designed role to simplify cross-border payment solutions, strengthens the case for XRP to potentially rise to a $27 price target, Egrag claims.\u00a0But his analysis wasn&#8217;t purely optimistic. He alerted followers to looming shadows in the broader financial spectrum.<\/p>\n<p>A significant number of technical analysts have forecasted a drastic 40%-50% downturn in global equity and stock markets. Egrag pondered the implications of such a downturn on cryptocurrencies, particularly XRP.\u00a0He shared the following chart and warned of a potential sharp XRP price crash:<\/p>\n<blockquote>\n<p><strong>Under such circumstances, a measured move of 0.017c becomes a pertinent consideration. I find myself somewhat perplexed by the dichotomy presented by certain technical analysts who foresee a collapse in traditional markets while advocating for crypto to adhere to its four-year cycle.<\/strong><\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/F7i1dkGWAAAGCBu-1.jpg?resize=1281%2C557\"><\/p>\n<p>He further remarked that &#8220;it&#8217;s imperative to maintain a consistent and non-contradictory thesis when assessing these scenarios,&#8221; highlighting the inconsistency of predicting both a market collapse and a steady crypto four-year cycle.<\/p>\n<h2>Community&#8217;s Mixed Responses<\/h2>\n<p>Feedback on Egrag&#8217;s analysis was multifaceted. @300Mill300, a prominent voice in the crypto space, extrapolated from Egrag\u2019s initial analysis and offered a chart that was bullish for XRP. He projected a rally to $1.15 by early 2024, followed by a brief retraction to $0.79, and a subsequent bullish surge to reach $1.40 by the close of 2024.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/F7lBm5dXIAA4OsB.jpg?resize=1835%2C931\"><\/p>\n<p>However, the sentiment wasn&#8217;t unanimously optimistic. Rainmaker, a crypto aficionado with nearly a decade&#8217;s experience, struck a cautionary note. He predicted a pronounced &#8220;wash out&#8221; preceding each Bitcoin halving event, pushing the XRP price down, possibly to the mid $0.20s.<\/p>\n<p>Responding to this, Egrag showcased his balanced stance. While agreeing with Rainmaker about the potential drag of macroeconomic elements on XRP, he remained bullish about XRP&#8217;s intrinsic strengths. He noted, &#8220;I think the general macro will drag it down but other than that it is solid like a rock.&#8221;<\/p>\n<p>Stepping into the discussion, Analyst Ata Yurt had a different take. He expressed skepticism about XRP achieving the mentioned price points, stating, &#8220;At $0.017 there would be no sellers nor buyers&#8230; At $27, there will be no buyers either apart from a small group of FOMO orders, majority will FOMO in at $3 or $5 as those are the expected levels considering previous ATH.&#8221;<\/p>\n<p>Yurt proposed a more pragmatic approach, suggesting a blend of technical analysis and market psychology. He believes that the $5 mark for XRP is more attainable, urging the community to consider a linear chart for assessment.<\/p>\n<p>Egrag, not one to step back from a discussion, retorted with a thought-provoking question, &#8220;Good idea but what if the equity and stock markets crashed 40-50%? Then what?&#8221; Yurt countered by estimating the potential fall of Bitcoin in such a scenario, speculating that if Bitcoin were to lag behind and drop by 60%, XRP, in relation to BTC, might settle around the $0.22-$0.25 range, a figure he deemed more realistic than the prediction of Egrag at $0.017.<\/p>\n<h2>The Bullish Case: XRP To $27?<\/h2>\n<p>Egrag recently took to social media, highlighting a potential roadmap for XRP&#8217;s ambitious journey to $27 through his interpretation of the &#8220;XRP ATLAS LINE&#8221;.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/F35w0B3XkAAZsMz.jpg?resize=1815%2C807\"><\/p>\n<p>Egrag predicts a near-term positive momentum that could push XRP into the $1.3-$1.5 zone. However, the digital currency might not stay there long, as he anticipates a dip back to the $0.55 region, a crucial breakout retest. Once this phase passes, he sees a dynamic resurgence propelling XRP to its previous highs of $2.8-$3.0.<\/p>\n<p>But that&#8217;s not the ceiling. Egrag envisions a more aggressive leap into the $13-$15 bracket, although he also foresees a significant sell-off around this price point. His analysis then steers back to a reconnection with earlier levels around $2.8-$3.0 before finally culminating at the coveted $27 mark.<\/p>\n<p>At press time, XRP traded at $0.5327.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/XRPUSD_2023-10-04_11-36-07.png?resize=3628%2C1672\"><br \/>\nSource: <a href=\"https:\/\/www.newsbtc.com\/analysis\/xrp\/will-xrp-price-defy-a-50-stock-market-crash\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial world is abuzz with speculations on the resilience of cryptocurrencies amidst potential global&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will XRP Price Defy A 50% Stock Market Crash? 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