As a seasoned analyst with years of experience in the dynamic world of cryptocurrencies, I find EGRAG Crypto’s analysis on XRP intriguing. His bullish stance, especially his prediction of a potential rally to $7.5, is noteworthy, given his consistent track record of ultra-bullish perspectives.
The current cost of XRP has not begun its upward trend as predicted by some cryptocurrency experts, but these analysts continue to maintain a positive outlook. One such analyst is EGRAG Crypto, a respected name in the crypto world known for his persistently optimistic views on XRP.
On social media platform X, EGRAG recently posted an in-depth analysis predicting that the prolonged period where XRP is trading below $1 might be ending soon. His technical assessment suggests a possible extended price increase. According to EGRAG, there are indications that XRP could be about to experience a significant bull run, potentially driving the price up to a target of $7.5. This prediction is based on the condition that XRP successfully breaks through a clearly defined resistance trendline.
Analyst Predicts XRP Rally To $7.5
EGRAG shared their findings using a weekly chart comparing XRP and TetherUS that stretches back to June 2019. Remarkably, this chart’s technical analysis shows two triangular patterns in price movement, one nested within the other. Notably, the smaller (white) triangle represents XRP’s price fluctuations over the past year from June 2023.
Inside a smaller, white triangle resides a larger, yellow one that’s grown since June 2020, coinciding with a significant bullish surge. Over the years, the price of XRP has been confined by these triangles, leading us to a crucial turning point. The recent price movements of XRP show an intense squeezing within these triangular limits.
EGRAG highlighted the upper boundary of these triangles as the “Authentic Breakout Line.” This level is considered a crucial barrier that might decide if XRP experiences a substantial bullish surge or persists in its consolidation phase. At the moment, XRP is trading within the restricted range of the white triangle, with the price fluctuating near $0.60.
The Catalyst
EGRAG highlights that if XRP manages to close above $0.64 each week, it could provide the momentum required to challenge the “Authentic Awakening Level,” which lies between $0.70 and $0.75. Consequently, the main goal for XRP supporters currently is to help the cryptocurrency break through this “Authentic Awakening Level.” Breaking through would likely initiate a robust upward trend.
#XRP Genuine Wake-Up Line (UPDATE):
NOTHING HAS CHANGED – SAME STANCE, SAME TARGETS!
A white Triangle is forming, capturing the highs from 2021. Enter the “Genuine Wake-Up Line” in yellow, signaling the next big move!
Atlas Line Update:
Yes, the “Atlas Line” was…
— EGRAG CRYPTO (@egragcrypto) August 23, 2024
According to EGRAG’s predictions, they aim for a high price point of $1.5 for XRP. If XRP keeps climbing past this mark, a more dramatic increase is anticipated, with EGRAG suggesting a rise towards the 1.618 Fibonacci level. Importantly, this projection aligns with a price target of around $7.5 based on the larger yellow triangle’s structure.
As I pen this down, the value of XRP stands at approximately $0.60. To achieve my target of $1.5, it would necessitate a 150% increase in price. Reaching $7.5 would demand a more substantial 1,150% surge from its current position.
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2024-08-25 16:16