Crypto analyst EGRAG CRYPTO has published a new chart analysis for XRP, the cryptocurrency associated with Ripple, projecting ambitious price targets if it can surpass a critical threshold. EGRAG, who frequently shares insights with the XRP community, sees $1.10 as a significant milestone for potential upward momentum.
The analysis and the captioned visual highlight that once XRP reaches a confirmed weekly close above this level, it could trigger an extended rally, potentially marking the start of a prolonged bullish phase.
Key Levels Highlighted
EGRAG’s analysis identifies two major targets beyond the $1.10 level:
$6.40: This price point represents a “non-logarithmic measured move.” Non-logarithmic analysis typically emphasizes linear growth without factoring in exponential scaling, suggesting EGRAG views this as a conservative target once XRP breaks through its initial barrier.
$13.00: This is the “logarithmic measured move,” which implies an exponential potential based on historical patterns in logarithmic growth. In this context, EGRAG seems to indicate that $13.00 is a plausible peak for XRP under favorable conditions.
In the tweet, EGRAG highlights $1.10 as the “ignition stage” for XRP, signaling that a confirmed breakout above this level could start a long-term trend reversal. The implication is that XRP would leave the $1 mark behind if $1.10 is firmly established as support, likely resulting in sustained price appreciation.
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Community Reactions: Optimism and Criticism
EGRAG’s analysis, which includes the bold caption “JUST DO IT,” reflects his confidence in XRP’s potential. However, his tweet drew mixed responses from the XRP community.
While some users are hopeful, others remain skeptical. Cozy, an X user, criticized EGRAG for his continued bullish projections, expressing doubts about the accuracy of past predictions.
Cozy remarked, “Still posting these… Still never getting it right. Keep going tho. One day it will moon, and then you can say ‘Told you so,’ after being wrong day after day chart after chart.”
OMC, another X user, questioned EGRAG’s consistency, commenting, “I must say you are consistent with your Hopium and FUD galore. A broken clock is right twice a day; we are still waiting for you to be right once. Give it a rest will you!”
These responses capture a sentiment common in crypto communities, where price predictions, especially for assets like XRP that have faced prolonged legal and market challenges, are often met with enthusiasm and skepticism. EGRAG, however, remains steadfast in his analysis, urging the “XRPArmy” to “stay steady & strong.”
Technical Analysis Overview
EGRAG’s chart visually represents XRP’s historical price movement and its gradual convergence within a triangular pattern. This setup typically indicates a potential breakout, where a consolidation phase gives way to a sharp upward or downward movement. By focusing on the $1.10 level, EGRAG underscores a point at which XRP could break free from this consolidation.
The projected price targets of $6.40 and $13.00 suggest that EGRAG sees substantial upside for XRP in a bullish scenario. Achieving these targets, however, would likely require broader market support, positive developments in Ripple’s ongoing legal battle with the SEC, and a favorable macroeconomic environment.
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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