Crypto analyst <\/span>Egrag Crypto<\/span><\/a> has raised the possibility of the XRP price rallying to $200. This followed his analysis using the regression model, which showed that the altcoin could record a 5,600% rally to this price target.\u00a0<\/span><\/p>\n In an <\/span>X post<\/span><\/a>, Egrag Crypto predicted that the XRP price could rally to $200 if it were to overshoot the linear regression line. He alluded to the <\/span>monthly timeframe<\/span><\/a>, which reflected the analysis of hits, misses, and overshoots using linear regression on a log scale. The analyst then noted that the analysis is grounded in a 2-standard deviation model.\u00a0<\/span><\/p>\n Egrag Crypto further highlighted the R-squared value in the <\/span>regression model<\/span><\/a>. He explained that this is a critical metric in indicating how well the regression line fits the data, with values closer to 1 representing a better fit. Essentially, 0.0 means no correlation, 0.5 indicates a moderate correlation, and 1 indicates a perfect correlation.\u00a0<\/span><\/p>\n The crypto analyst then revealed that the current R-squared is at 0.84754, indicating a highly fitting model. He further remarked that this means around 84.75% of the variance in the dependent variable can be explained by the independent variable. In applying this theory to <\/span>XRP price prediction<\/span><\/a>, Egrag Crypto stated that the altcoin has reached the upper edge of the regression line three times.\u00a0<\/span><\/p>\n Notably, the XRP price recorded a notable overshoot on one occasion, when it surged by 570%. Meanwhile, in <\/span>the 2021 cycle<\/span><\/a>, it missed the target by 45%. Egrag Crypto stated that the altcoin is currently hovering around the midpoint of the regression.\u00a0<\/span><\/p>\n Based on his analysis, a hit of this regression line would put <\/span>XRP at $27<\/span><\/a>, while a miss of 45%, as seen in the 2021 cycle, would put the altcoin at $18. The overshoot of 570% is what could cause XRP to skyrocket to $200. Egrag Crypto noted that these targets will likely increase as the regression model is trending upward.<\/span><\/p>\n Crypto analyst CasiTrades<\/span><\/a> has provided insights into what to expect from the XRP price amid the latest decline. In an <\/span>X post<\/span><\/a>, she noted that the altcoin has printed a new low and remains within its larger consolidation pattern, even as it recently tested the key trendline around $2.91. The analyst also revealed that the area is the golden retrace, which is where Wave 2s love to correct before continuing higher.\u00a0<\/span><\/p>\n As such, if this level holds, CasiTrades believes that the XRP price could be setting up a textbook <\/span>Elliot Wave continuation<\/span><\/a> for Wave 3. She stated that the next confirmation point is $3.12. The analyst explained that this is the resistance level that is capping a higher move. Therefore, a break above that level would mean that the higher Fibonacci extensions are aligning nicely.\u00a0<\/span><\/p>\n At the time of writing, the XRP Price is trading at around $3, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n Featured image from iStock, chart from Tradingview.com<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Crypto analyst Egrag Crypto has raised the possibility of the XRP price rallying to $200. This followed his analysis using the regression model, which showed that the altcoin could record a 5,600% rally to this price target.\u00a0 How The XRP Price Could Rally 5,600% To $200 In an X post, Egrag Crypto predicted that the […]<\/p>\n","protected":false},"author":2,"featured_media":403345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-403344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/403344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=403344"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/403344\/revisions"}],"predecessor-version":[{"id":403346,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/403344\/revisions\/403346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/403345"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=403344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=403344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=403344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How The XRP Price Could Rally 5,600% To $200<\/h2>\n
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