XRP is currently approaching its fundamental development stage

Investors assert that the token still holds potential for a 2017-type performance. The cryptocurrency is currently in “Wave 3” of its cycle

Egrag, a crypto analyst known on the X platform previously called Twitter, has asserted that XRP is now approaching its fundamental development stage.

According to the analyst, such a market consists of fluctuations before entering a bear market in this phase. This would be followed by consolidation, which would then open the opportunity of a new cycle that could bring tokens to three figures.

Egrag’s assertion comes after he put forth his thoughts on the cryptocurrency’s cycles. The cryptocurrency is currently in “Wave 3” of its cycle, which is expected to end this summer in the double-digit mark. After this stage, the next phase would be “Wave 4,” a phase that is expected to be completed within the next three years.

Egrag’s forecast has attracted attention as he compares the current XRP cycle to that of 2017, which was characterized by fluctuation of price. The initial projection for breaking a high is at $2,7, which will be followed by a steep rise to $120. The forecast for the future cycle suggests that it may be similar to the one observed in 2017. He also states that the different phases might be either thicker or thinner than in the past, so the time needed for them is also uncertain.

XRP’s value remains a subject of focus, especially given this new perspective into the crypto’s future in the following years. The expectations before the beginning of Wave 4 lie in the fact that many investors are expecting the cryptocurrency to rise to double digits before the end of Wave 3. The additional interest in the movement of coin in the market has contributed to the general sentiment of the potential of XRP in future returns.

Investors Expect XRP to Hit $120

Market participants are also interested in reaching $120, and this has made people believe that cryptocurrency has a lot of potential in the future. If the market is to go in accordance with the prediction, then the experience was just the start of a new bull run cycle for the cryptocurrency market. Traders are notably observing the upcoming phases to check whether it will follow these phases as predicted in trading. As of press time, the Ripple token is trading at $2.16, showing a 4.26% decline over the past day.

The outlook for the token is fairly bullish over the longer term, with the potential for much higher nominal value in the year ahead. As far as phases’ timing is concerned, it is not very clear, yet the events give hints of an XRP replicate of the 2017 cycle. Many investors and traders are eager to see whether the cryptocurrency will indeed follow this path.