Cryptocurrency analyst Egrag It provided insight into the current market situation of XRP price from a technical analysis perspective. He highlighted the significant level of support for crypto tokens and also reaffirmed his optimistic predictions For XRP When Bull Run Returns.
XRP could rise to $2 from this support level.
in post Egrag noted on his X (formerly Twitter) platform that XRP could rise to $2 if it reaches the $1.2 support level. He shared the attached chart to support his claim. On the chart, he noted that it is “interesting” that XRP has yet to close a monthly candle above $1.2.
Source: X
He also noted that so far XRP has body candles but no full body candles have materialized. Nonetheless, cryptocurrency analysts remain optimistic about XRP’s future trajectory. He expressed confidence that XRP would reach $2 when it “finally achieves a monthly candle close above $1.2.”
Considering that it seems like a lot Losing Hope About XRP’s Potential, Egrag suggested, offering new hope, as he said he was confident the move would trigger “mass FOMO.” Meanwhile, those who remain firm will be hoping that Egrag’s prediction comes true, as they believe it is a long time coming for XRP to make a significant rebound.
Egg is previously mentioned XRP reaching $27 means XRP had a parabolic move in 2017 and the token Up 61,000% in 280 days. He once again reaffirmed his bullish stance, saying he is still eyeing the $27 level.
Token price fluctuates | Source: XRPUSD on Tradingview.com
XRP price retest trend line
Cryptocurrency analyst JD He also shared his outlook for XRP in a recent chart. He mentioned in X post XRP has broken out of a multi-year trend line on a non-logarithmic scale. After that, XRP is currently retesting the trendline.
Regarding the future of XRP, he pointed out that the rebound in the weekly close is optimistic. Means a breakout or retest. However, a break below the trend line may be a false breakout.
Source: X
Meanwhile, another analyst, Crytoes, recently mentioned When it comes to the XRP market, the bears are still in control. He made this statement after XRP closed the day below its 21MA (moving average).
As of this writing, XRP is said to be trading around $0.62 over the past 24 hours. data From CoinMarketCap.
Featured image by Watcher Guru, Tradingview.com chart
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