Top Analyst Shows Unique Way for XRP to Hit $33

A recent analysis by prominent cryptocurrency analyst EGRAG CRYPTO (@egragcrypto) shed light on the potential for a massive breakout for XRP, emphasizing the role of thin order books in facilitating significant price increases.

Although XRP has now surpassed $1, the key argument at the time of the tweet centered on XRP closing above $0.75, which he identified as a critical structural and psychological launchpad for potential exponential price movements.

Understanding Thin Order Books

A thin order book, characterized by sparse buy and sell orders across price levels, is common in lower-liquidity markets. Unlike high-liquidity order books, where clustered orders require significant capital to move prices, thin order books allow modest trades to clear multiple price levels quickly, leading to notable price swings.

XRP’s Launchpad at $0.75

The $0.75 price level is a key foundational point for XRP’s expansion. According to EGRAG CRYPTO, if XRP closes above this threshold, it would establish a strong support base allowing the asset to capitalize on thin order book dynamics.

EGRAG CRYPTO illustrates how this phenomenon works with potential price multiples. For instance:

A 10X increase from $0.75 results in $7.50.

A 20X increase reaches $15.00.

A 30X increase pushes XRP to $22.50.

A 40X increase pushes XRP to $30.00.

#XRP The Impact of Thin Order Book:
(10X, 20X,30X,40X & Beyond)

Let's begin where it matters: closing above $0.75 will be our launchpad, both structurally and mathematically.

Let’s Break Down Why:
When the market and order book are thin, even a small cash injection can cause… pic.twitter.com/sam01NkI2A

— EGRAG CRYPTO (@egragcrypto) November 14, 2024

These levels become increasingly achievable as the order book thins out and each successive price jump requires proportionally less capital compared to earlier stages.

Notably, XRP recently surpassed this level after a 20% surge caused by the potential resignation of Gary Gensler , the Chair of the U.S. Securities and Exchange Commission (SEC).

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XRP’s Next Moves

To contextualize the potential impact, consider a scenario where XRP trades at $0.75 with a thin sell-side order book. EGRAG CRYPTO noted that a $1 million buy order under such conditions could clear multiple price levels, driving the price substantially higher—possibly beyond $1.00.

Furthermore, the mathematical dynamics of percentage increases play a crucial role. Moving from $0.75 to $1.50 represents a 100% gain, while a move from $7.50 to $15 represents the same percentage increase but could require less buy-side pressure due to market conditions at higher price levels.

Based on this analysis, the analyst believes a $33 target is feasible. Notably, other analysts have also shared this target . At the time of press, XRP is trading at $1.03, up 25% over the past 24 hours, far above the $0.75 launchpad.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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