Cryptocurrency enthusiasts are always on the lookout for insightful analyses that can shed light on the potential price movements of their favorite digital assets. Recently, a prominent crypto analyst took to X to share his thoughts on XRP, revealing a detailed analysis of the digital asset’s price trajectory and the factors that may influence it.
The Gods Candle Update
EGRAG CRYPTO’s post, titled “XRP GODS CANDLE, IT IS COMING (UPDATE),” begins with a mention of the request for XRP to reach a price of $0.65, emphasizing the desire for XRP to conclude the weekly candle above $0.55. This indicates a bullish sentiment and suggests that a rebound may be imminent.
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This post is an update to the Gods Candle prediction from October 24, in which the analyst introduced the concept. In that post, EGRAG CRYPTO likened XRP’s current situation to chipping away at a metaphorical “Berlin Wall” of resistance.
The analyst mentions that with each small “pinch,” this resistance inches closer to its inevitable collapse. This metaphor paints a picture of an impending breakthrough that could be remarkable in its impact on XRP’s price.
The price expectations set by EGRAG CRYPTO are optimistic. The analyst anticipates that XRP’s forthcoming move could fall within the impressive range of $1.10 to $1.40.
The old post also mentions that XRP is forming a distinct “W” pattern. The “W” pattern is a chart formation associated with trend reversals and powerful price momentum. It suggests a measured move to approximately $0.65, indicating that XRP could experience a significant price increase.
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EGRAG CRYPTO emphasizes the importance of a successful breach at the $0.65 level, as it would indicate a bullish trend. This breach could set the stage for a retest of the range between 55 to 58 cents, followed by what the analyst refers to as a “Rebounce.” If this Rebounce materializes, it could confirm the price range between $1.10 and $1.40 that the chartist anticipates.
Closing out the update, EGRAG CRYPTO states, “In the following week, it would be ideal for it to revisit the 0.55c level as a confirmation that a rebound is imminent and that the achievement of the $1 mark is highly likely.”
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