EGRAG CRYPTO (@egragcrypto), a prominent cryptocurrency analyst on X, recently shared an intriguing chart and commentary on XRP’s price trajectory.
The analysis, initially suggesting a big fall for XRP, is revealed upon closer examination to project a significant upward movement for XRP, with potential targets aligning with Fibonacci retracement levels.
The chart shared by EGRAG CRYPTO appears visually inverted, which might be misleading at first glance. However, a closer look makes the bullish sentiment clear.
The analyst identified three key levels derived from Fibonacci extensions, a common tool in financial market analysis to identify potential price targets after a breakout, and an analysis of the asset’s extended consolidation and repetition of historic patterns.
#XRP – The Big Fall:
It has already began At $2 Dollar Mark.
Soon I'll be welcoming you in Valhalla. #XRPFamily STAY STEADY and STRONG pic.twitter.com/1PPh1jgyS0
— EGRAG CRYPTO (@egragcrypto) December 22, 2024
Targets for XRP’s Next Run
EGRAG CRYPTO noted the $2 mark as the beginning of XRP’s journey. In early December, the digital asset crossed over the $2 level for the first time since 2018, and EGRAG CRYPTO believes the asset has entered a new phase.
The first target is $5.89, a level the analyst has previously described as a measured move preceding a pump to double digits. Notably, this target represents a new all-time high for XRP.
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The digital asset is currently trading at $2.2, and this target represents a 167.7% increase from its current price. However, this is just the start, as EGRAG CRYPTO has much higher expectations for the digital asset.
The second target is $15, a massive 581.8% increase that significantly exceeds XRP’s previous all-time highs.
This prediction signals a potential for strong market adoption or major developments in the cryptocurrency space. The final target is $18.5, which is 740.9% higher than the asset’s current price, and would bring life-changing wealth to early investors.
The Increasing Bullish Sentiment Surrounding XRP
EGRAG CRYPTO’s analysis has sparked excitement within the XRP community. His analysis reflects a broader trend in the cryptocurrency market, as many analysts have recently shared bullish predictions for XRP. The identification of Fibonacci-based targets at $5.89, $15.00, and $18.50 reinforces this bullish outlook for XRP.
While the asset has a strong technical foundation, notable developments within the crypto space like the recent launch of RLUSD and growing adoption through Ripple’s global partnerships could speed up this predicted rally.
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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