XRP price has left many enthusiasts dissatisfied during this bull cycle. Failed to reach $1 Despite optimistic feelings Nearby cryptocurrency. However, cryptocurrency analyst EGRAG CRYPTO believes a $1 XRP price is still possible this cycle as he has predicted a price surge in the near term. From this analyst’s technical perspective, recent price action shows that XRP is poised for a significant rise above $1, forming a “W” pattern.
XRP price patterns indicate a potential large-scale move.
The highest price for XRP so far this year is $0.718. Cryptocurrencies are now discovering themselves Touring below price level of $0.65 and even falling until It’s $0.57 for the last 7 days. This has left many investors and holders frustrated and concerned about poor price performance.
nevertheless poor performance, many analysts continue to maintain bullish price action for XRP. Known for its bullish attitude toward XRP, EGRAG mostly encouraged its followers on social media to maintain a positive attitude toward XRP. According to the most recent technical analysis he shared on social media, XRP’s price formation has now established a bullish pattern that has been the cause of significant price gains in the past.
This price surge is based specifically on the unique “W” pattern he highlighted on the 3-day candlestick chart of the XRP price. Interestingly, a closer look at the chart shared by EGRAG shows that XRP began forming this “W” pattern in July 2023. Now that the formation appears to be complete, analysts say XRP could potentially surge to $1 on a standard scale and $1.2 on a logarithmic scale.
#XRP Wave 10 ($1 – $1.2) 🌊🔟:
The 10th “W” pattern aligns very well with the current market setup, indicating a potentially significant move.
The target price remains consistent.
1) Non-logarithmic: $1
2) Log: $1.2#XRPArmy Stay calm and be thankful… pic.twitter.com/PS6xZi1FFv— EGRAG Cryptocurrency (@egragcrypto) March 24, 2024
As of this writing, XRP is trading at $0.63. A surge to $1 and $1.2 from current price levels would imply a surge of 58.7% and 90.47% respectively. However, EGRAG also pointed out the possibility that the “W” pattern could lead to a recession. In his price chart, he highlighted a worst-case scenario where XRP falls to $0.44518.
What’s next for XRP?
EGRAG is one of the following: Many cryptocurrency analysts We remain very optimistic about the price trajectory of XRP. His XRP Long-Term Price Prediction It’s $27. Other analysts include: Mickey Bull predicts XRP could reach up to $6.
It appears that Ripple has filed a lawsuit against the SEC. almost finished This could mark the end of XRP’s long period of slow price growth. As a result, we could soon see XRP soar to new highs. Whether XRP reaches $27 or sets a new record, many see XRP as an undervalued asset with significant upside potential. This fundamental growth We see XRP rising to $1 for the first time since November 2021.
XRP price recovers above $0.62 | Source: XRPUSDT on Tradingview.com
Featured image by Watcher Guru, Tradingview.com chart
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