In the dynamic realm of cryptocurrencies, XRP has recently sparked excitement among investors and enthusiasts alike. A renowned crypto analyst, EGRAG, has set the stage for a potential monumental rally in the value of XRP, predicting an ascent to dizzying heights of $10 or even $50.

Despite a history of fluctuations, XRP has garnered attention for its recent consolidation phase towards the end of November. Analysts attribute this potential breakout to a combination of strong fundamentals and promising price movements. EGRAG, an authority in the crypto sphere, highlighted the significance of XRP’s past price actions, particularly examining candle formations on the monthly timeframe, fueling anticipation for an extraordinary surge.

The trajectory of XRP witnessed a rollercoaster ride following Ripple’s legal battle with the SEC, which partially favored the company in July. This victory prompted several surges in price, increased listings on major US-based exchanges, and maintained a steady climb since mid-year.

What’s caught the attention of experts and enthusiasts is the recent formation of green candles on XRP’s monthly chart. According to EGRAG, such a pattern has only occurred twice in XRP’s history, coinciding with substantial price spikes both times. This historical precedent lays the groundwork for potential scenarios that might unfold in the coming months.

In one scenario, drawing parallels to 2016, XRP exhibited a 12-month consolidation phase after the formation of three bullish candles, followed by a remarkable 8000% surge to $0.40562. Should history repeat itself, a similar consolidation period might precede a staggering surge to $50, potentially commencing from November 1st, 2024.

Conversely, another scenario reflects a different trend in XRP’s history. After three bullish candles, the crypto underwent a 5-month consolidation phase before embarking on a 1500% surge, reaching its previous all-time high of $3.026. A replication of this scenario could propel XRP to $10, with the potential surge starting around April 1st, 2024.

Presently, XRP stands at $0.6138, prompting speculation among analysts regarding its undervalued status despite ranking as the 5th largest cryptocurrency by market cap. EGRAG suggests a probable trading range for December, projecting XRP to fluctuate between $0.7 and $0.54. Notably, a decisive close above $0.93 might signal the conclusion of the current accumulation phase, potentially paving the way for further upward movement.

Analysts are highlighting a significant aspect of XRP’s recent price action: the emergence of green candles on the monthly charts. This occurrence, a rarity in XRP’s history, has previously heralded substantial price spikes for the cryptocurrency. Drawing parallels from historical data, EGRAG emphasizes the importance of these candle formations in predicting potential future movements.

Delving deeper into historical precedents, EGRAG presents two compelling scenarios based on previous price actions of XRP. The first scenario mirrors the 2016 pattern when XRP underwent a consolidation phase lasting 12 months after the formation of three bullish candles. This phase was followed by a staggering 8000% surge, propelling XRP to $0.40562. If history repeats itself, experts anticipate a similar consolidation period before a potential skyrocket to $50, speculated to commence around November 1st, 2024.

The second scenario draws from a different historical instance where XRP encountered a 5-month consolidation phase after the formation of three bullish candles. Subsequently, the token experienced a remarkable 1500% surge, culminating in its previous all-time high of $3.026. Should this pattern repeat, XRP could surge to $10, potentially commencing from April 1st, 2024.

Presently trading at $0.6138, XRP’s market capitalization stands at a formidable $33.07 billion on the daily charts. Despite holding the position as the 5th largest cryptocurrency by market cap, analysts believe that XRP is undervalued, setting the stage for a potentially lucrative investment opportunity.

While this potential surge presents an enticing opportunity, it also entails risks inherent to the volatile nature of cryptocurrency markets. However, for those seeking to seize early momentum, this juncture might offer a chance to ride the wave of XRP’s possible ascent to $10 or $50, although the duration of any consolidation phase remains uncertain.