Cryptocurrency enthusiasts and investors are closely monitoring XRP as it exhibits intriguing potential, according to the pseudonymous crypto chartist EGRAG CRYPTO.
In a recent post on X showing his analysis of the daily timeframe, EGRAG CRYPTO highlighted what he considers the “last opportunity” to procure XRP at current rates. His analysis introduces two potential scenarios for XRP’s trajectory, both forecasting bullish outcomes but with varying degrees of initial price dips.
XRP's Future: Blue or Yellow Trajectory? 🟦🟨🚀
I'm leaning toward the blue trajectory, although a dip to 0.55c remains possible. This might just be our final opportunity to snag #XRP at these rates!#XRPArmy STAY STEADY, I've mentioned before that purchasing #XRP below 0.50c… pic.twitter.com/h0UqPZjiWZ
— EGRAG CRYPTO (@egragcrypto) December 19, 2023
Read Also: Garlinghouse Says If He Understands XRP Price Dynamics, He Could Resign As Ripple CEO
The first trajectory, depicted by a blue line, suggests a relatively modest 7% drop to the $0.5811 support level from the current price of $0.6254.
Despite this initial dip, he anticipates a noteworthy recovery, propelling XRP beyond the $0.7545 resistance level and potentially reaching heights above the late July peaks of $0.85.
The second trajectory, represented by a yellow line, envisions a more substantial price drop of 12.3% to the late October lows of $0.5483.
While this path implies a more extended period of bearish performance, he suggests the potential for more significant price surges, hinting at a rally to levels not seen since the July 13 ruling when a New York federal judge issued a ruling in favor of Ripple.
After the favorable ruling, XRP surged over 90%, from around $0.47 to a peak of $0.93 to the surprise of many market participants.
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EGRAG CRYPTO’s Insights
EGRAG CRYPTO leans towards the blue trajectory as the more likely scenario despite acknowledging the possibility of XRP dropping to the $0.55 region, which, according to the analyst, could present the last opportunity to purchase XRP at these attractive levels.
His optimism in XRP is further shown by a separate analysis where he highlights a discernible uptrend in XRP’s performance since January. He criticizes those who may have overlooked this uptrend, interpreting it as a potential indicator of an impending price explosion.
Read Also: Following This Prediction, Wall Street Veteran Anticipates XRP Price Reaction After Ripple Swell
Current Market Conditions
As investors await the unfolding of these trajectories, XRP is currently trading flat in the short term at $0.6195. Notably, trading volume for the token has surged by 16.98% to $1,431,553,604. This uptick in volume signals a renewed interest from investors in XRP, coinciding with a broader bullish resurgence in the altcoin market.
Another prominent analyst recently reaffirmed his price target of $5.85 for XRP. This opportunity EGRAG CRYPTO has highlighted is the perfect opportunity to get into XRP before it starts to leave bears behind. However, this is not investment advice. Do your own research (DYOR) before investing in any crypto asset.
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