EGRAG CRYPTO (@egragcrypto), a prominent crypto analyst on X, has released a bold prediction for XRP’s future price movement. The forecast, based on detailed chart analysis, suggests XRP could reach unprecedented heights in the coming years.
The chartist’s analysis centers on the monthly XRP chart, where he has identified key support and resistance levels. The most crucial of these is what he terms the “Hestia Line” – a rising support trendline that has become increasingly significant in recent months.
Crucial Support and Resistance Trendlines
EGRAG CRYPTO revealed that the Hestia Line gained importance after the breakdown of another key level, referred to as the “Phobos Line,” in early 2024. This shift in support dynamics has set the stage for what the analyst believes could be a substantial price increase.
The analyst also highlights an ascending triangle pattern that has been forming since January 2018. This pattern is bounded by the Hestia Line at the bottom. The analyst calls the “Troposphere Line” the top. The convergence of these lines creates a scenario where a breakout could potentially trigger a significant price movement.
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Potential Targets for XRP
EGRAG CRYPTO presents two possible price targets based on this pattern. The more conservative estimate suggests that XRP could reach $17, calculated from the Hestia Line. However, a more ambitious projection, following the traditional ascending triangle breakout methodology, points to a possible surge to $27.
It’s worth noting that EGRAG CRYPTO himself seems to favor $17. He outlines specific conditions that must be met for the higher target to become viable. These include XRP reclaiming the previous Phobos Line support by surpassing the $0.90 resistance level, followed by a breach of the $1.30 mark to clear the Troposphere Line.
Meanwhile, EGRAG CRYPTO predicted the same targets of $17 and $27 for the digital asset in April based on a similar ascending triangle formation. The analyst’s recent post received overwhelming support from community members eager to see a massive price increase.
At press time, XRP traded at $0.6127, after a notable market-wide decline forced it to drop by over 1.5%. However, the digital asset is maintaining its position above the $0.6 level, showing resilience, and reinforcing the community’s hope of a price surge.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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