Cryptocurrency analyst Egrag Crypto It provided another bullish story for the XRP price. This time, he outlined two scenarios in which the cryptocurrency token could experience a breakout, potentially sending it up to $7.50. This comes with recent revelations. XRP Relative Strength Index (RSI) It hit an all-time low.
Time for XRP price breakout
Egrag Crypto shared the chart on X (formerly Twitter). post This showed that the cryptocurrency token could rise to $7.5 if it hits its next target. breakoutThis is what crypto analysts claim is imminent. Eggg He highlighted the “white triangle” breakout on the chart, which he said was “perfectly consistent” with the previous chart and the Fib 0.702-0.786 level.
He added that he expects the measured move to be between $1.2 and $1.5 before XRP takes off and rises to $7.5. Egrag added:important breakthrough pointThe price of XRP is around $0.70 and $0.7’5, and the cryptocurrency token is “poised to achieve this breakthrough in the next few weeks.”
Egrag said a retest of the breakout could be on the cards, warning that XRP could still experience a significant decline before then. But he said “mega run XRP is coming soon.”
Meanwhile, in a second scenario on how XRP could achieve an imminent breakout, Egrag Crypto highlighted the ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is $0.6799. He pointed out that XRP is still bullish “like a boss” on the Atlas line, suggesting it will soon surpass $0.6799.
In the meantime, $0.5777 and $0.5000 are the key price levels. XRP Holders It needs to be monitored. Egrag follows this atlas line to show resistance and support levels for XRP’s upward trend.
XRP has hit its lowest RSI in history.
Recently Egrag was released. X post that RSI of XRP It’s the lowest ever. He pointed out that this claim was made on a monthly basis and shared a chart to prove his point. Following his revelations, Egrag emphasized: I’m optimistic this was for XRP“If this isn’t a positive sign, I don’t know what is,” he said.
According to the chart he shared, XRP’s Relative Strength Index is 38, which is actually a bullish number for the cryptocurrency token. Low RSI level is considered buy signal Because they suggest that the coin is oversold and undervalued. Crypto investors can therefore look to accumulate XRP and these buy orders are expected to trigger an upward trend for the cryptocurrency token.
As of this writing, XRP is said to be trading at around $0.52, up nearly 1% in the last 24 hours. data From CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com