XRP may not have had the best start to 2024, but cryptocurrency analyst Enthusiasts remain bullish on cryptocurrency assets and are predicting the possibility of prices surging to new highs.
Popular cryptocurrency analyst Egrag Crypto has made a bold prediction for XRP, suggesting it reach new peaks. Egrag Crypto’s forecast examines the potential for the token to reach prices above $2.
XRP is poised to surge to new all-time highs.
In a forecast shared on the
As a result, Egrag crypto predicted a potential 7000% price increase if: XRP explodes of moving average. However, experts believe that a rally will occur once the XRP price reaches $2.2.
If this increase occurs at the aforementioned price levels, it would increase to around $139, according to Egrag. His predictions are supported by historical data, which he uses to highlight similar trends during the 2017 bull market.
It is worth noting that prior to the 2017 bull market, XRP was similarly hedged between the 21 EMA and 55 MA. XRP, on the other hand, initially surged to $0.0302 after the breakout, before rising 7,000% to $2.
The analyst emphasized that around 99% of people may not currently understand their predictions. Nonetheless, when utilities begin to succeed, it could be the start of a decades-long trend.
A rally is possible if the 21-day moving average and the 55-day moving average are broken, but there is also potential downside risk. According to Egrag Crypto, this position could fall to around $0.45.
He also argued that it is important for XRP to close above $0.60, pushing the asset above the 21 EMA. Additionally, it will break through local resistance levels with a ‘candle style’.
Different Elements of Mega Movement
Following his predictions, Egrag pointed out several aspects that determine his setup. prediction beside. “This could be the prelude to a once-in-a-lifetime exodus,” he said.
The first aspect highlighted by analysts is that if a rally occurs, XRP We will conclude with the “W formation”. Afterwards, you can “complete the formation of an ascending triangle.”
Meanwhile, on the last aspect, he noted that it “could trigger a 500% rally” in the current XRP price. This could potentially start a big price surge at higher levels. So far, Egrag has urged the cryptocurrency community not to be fooled by his charts, as his predictions could be life-changing opportunities.
Featured image from iStock, chart from Tradingview.com
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