The analyst lays out the timeline for XRP to reach $41, citing Tesla’s path by a factor of 10

Market commentator EGRAG believes that if XRP follows Tesla’s price trend from 2018 to 2023, its price could rise significantly. 1,667%.

A recent analysis identified similarities between Tesla’s (TSLA) historical price movements and XRP’s current path, suggesting that a significant rally could follow its ongoing correction.

It is interesting that this market Comment It comes from analyst EGRAG, who believes that XRP could emulate Tesla’s path, potentially reaching a price of $41 within the next 91 days.

Tesla’s historic career

Market data confirms that in December 2018, Tesla saw a massive price drop after CEO Elon Musk appeared on CBS’ “60 Minutes.” The stock fell to $12 during the corrective phase but later saw a notable recovery.

During the next 912 days, Tesla It has seen an impressive recovery. After reclaiming the previous high of $24, Tesla rose to reach a resistance level of $58 in April 2020. It immediately surpassed this level, reaching a peak of $170 by late 2020 and then Final peak of $410 in November 2021.

XRP could follow a similar path

EGRAG has identified similar conditions in the XRP market. He pointed to the CEO of Ripple Brad Garlinghouse debuts in December 2024 On the same program the prices will drop later.

While the chart suggests that XRP’s decline may continue in the short term, EGRAG believes it reflects Tesla’s early struggles before its explosive rise. As of todayXRP is trading at $2.22 after a 1.97% gain, still well below its December 3 peak of $2.90.

This decline, accelerated by hawkish comments from the Federal Reserve, puts XRP about 20% below its recent highs. The chart analysis also highlights a crucial support level at $2.1244, which could play a pivotal role in XRP’s recovery.

Meanwhile, EGRAG expects a sharper correction. With the possibility of lower prices to $1.20 before bouncing back. Despite these downward movements, the analyst remains optimistic about a significant rally after this stage.

According to his forecast, after the expected drop to $1.20, XRP could regain the $2.4 mark and then It rose to $5.6, a new all-time high. After this level, EGRAG expects a level XRP rose to $17 Before eventually claiming the final target of $41 in 91 days.

EGRAG justified the 10X factor by saying cryptocurrencies move faster than stocks, reducing Tesla’s 912-day rally to 91 days for XRP. With XRP currently trading for $2.32, a rise to $41 would require a massive 1,667% rally.