XRP has been the subject of much debate within the cryptocurrency community. While some remain optimistic about its future potential, others express skepticism due to its performance over the past few years. However, prominent analyst EGRAG CRYPTO (@egragcrypto) presents a bullish outlook, suggesting a calculated move could propel XRP’s price significantly higher.
EGRAG CRYPTO’s analysis hinges on the Atlas Line, an ascending trendline he identifies on XRP’s historical chart. Established in March 2020, this trendline acts as a support level, consistently coinciding with XRP’s lowest price points over the past four years. Each prior intersection between XRP and the Atlas Line has caused a notable upswing.
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Historical Atlas Line Surges
EGRAG CRYPTO highlights nine such instances, which he marked with yellow circles. The biggest surge produced by the Atlas Line came after the January 4, 2021 crash. After a surge to $0.6922, XRP plummeted to $0.226. However, the asset quickly rebounded, embarking on a bullish trend that culminated in a price of $1.96 by April 2021.
These nine points of intersection form a significant pattern – an ascending parallel channel. EGRAG CRYPTO identifies another parallel line running in the opposite direction, which he terms the “final wake-up line.” The confluence of these two lines creates a large triangle on the XRP chart.
The $1.5 Stepping Stone
EGRAG CRYPTO acknowledges more recent price movements and identifies a smaller triangle within the larger formation. This white triangle presents a more immediate target, a measured move that could send XRP to $1.5. This target coincides with the Fib. 0.768 level. In EGRAG CRYPTO’s view, this price point signifies the beginning of a significant upward trend.
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EGRAG CRYPTO’s Measured Move Predicts Potential Surges
The final wake-up line forms a blue triangle with the Atlas Line which is central to EGRAG CRYPTO’s prediction. He posits that a breakout from the triangle could trigger a substantial price increase for XRP. His target is $5.89, representing an increase of over 1,000% from the asset’s current price of $0.52. $5.89 also coincides with the Fib. 1.618 level.
Another prominent analyst recently called $5 a realistic target, strengthening EGRAG CRYPTO’s prediction and inspiring confidence in the XRP community.
EGRAG CRYPTO’s analysis offers a compelling perspective on XRP’s potential. While the community grapples with uncertainty, the technical indicators he presents show a bright future for XRP.
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