Despite Recent decline in XRP pricecryptocurrency analyst Egg Encryption This gave us reason to believe that it offered the perfect opportunity to accumulate more tokens without losing confidence in their potential.
Will XRP go to $22 soon?
Egrag recently hinted at X (formerly Twitter). post XRP could soon rise to $22. The attached chart he shared showed that the cryptocurrency token will reach this price level if it follows the green path that analysts have consistently mentioned. to X post Here’s what Egrag proposed last year: XRP could reach $22 If you follow the green route this July.
Meanwhile, he also noted the following in his recent analysis: symmetrical triangle It was currently being formed. According to Egrag, an XRP price drop is a buying opportunity as long as the crypto token maintains a symmetrical triangle formation. Interestingly, cryptocurrency analyst Jaydee also mentioned this recently. bullish pattern.
However, according to his analysis, Jaydee decided The thing about monthly charts is that a symmetrical triangle has already been formed. This chart pattern is important because it is said to have triggered XRP’s parabolic move in 2017, when XRP posted gains of over 30,000%.
After this pattern is formed, the analyst determines the MACD (moving average convergence divergence) will cross zero in the coming months, followed by a parabolic movement. The attached chart shared by Jaydee suggests that if this uptrend occurs, XRP could rise above $12.
Token price establishes support at $0.5 | Source: XRPUSD on Tradingview.com
Wave 2 analysis
In his recent X post, Egrag analyzed the current price movements of XRP. Analysts believe that XRP’s Wave 2 correction will follow a regular pattern and Correction wave C It will not fall below $0.41. However, he pointed out that if that does not happen, there is a possibility that wave C will occur. Fall between $0.35 and $0.40.
He went on to say that it is very important from a macro perspective for XRP to remain above the $0.28 level. If XRP falls to that level, there will undoubtedly be a very negative outlook for the cryptocurrency token. Whatever happens, Egrag remains bullish on XRP. XRP Holders This is to prepare for the upcoming big mega boom.
In his opinion, there will be life-changing opportunities for the XRP community between now and 2025. Considering what analysts have already predicted XRP reaches $5 in 90 daysThis life-changing opportunity could come around April.
As of this writing, XRP is said to be trading around $0.50, up more than 2% in the last 24 hours. data From CoinMarketCap.
Featured image from CoinMarketCap, chart from Tradingview.com
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