Despite its poor performance, XRP has been a center of investor interest. However, a recent analysis by prominent market analyst EGRAG CRYPTO (@egragcrypto) suggests that XRP’s trajectory will turn around soon. The analyst offers details of XRP’s potential price trajectory, building upon his previous analysis.
EGRAG CRYPTO’s previous analysis hinges on three key trend lines: Phobos, Hestia, and Hermes. Each line represents distinct market conditions that can significantly impact XRP’s price.
Read Also: From $0.9 to $33.5: Analyst Sets Multiple Targets for XRP, Citing Line of Hestia
Phobos Line: This line acts as a psychological barrier. A dip below this trendline can cause a bearish turn as fear and uncertainty build among investors and panic selling begins.
Hestia Line: This line signifies stability in the market. Historically, XRP has experienced significant price increases after finding support at the Hestia Line. EGRAG CRYPTO’s data indicates that touching this line has previously resulted in price surges ranging from 80% to 6600%.
Hermes Line: Named after the Greek god of trade and travel, this line symbolizes bullish momentum. EGRAG CRYPTO described this line as a vital force, and it often causes huge rallies, elevating XRP to new heights.
Price Targets
EGRAG CRYPTO’s latest update outlines several price targets for XRP, drawing upon historical data and XRP’s past behavior. Another analyst recently predicted a climb to $3 based on a rare technical indicator, but EGRAG CRYPTO has much higher targets. His projections encompass a range of potential price points, culminating in an ambitious target of $33.5.
This target is anchored in XRP’s historical price movements when it touches the Hestia Line. As EGRAG CRYPTO highlights, historical data reveals significant price increases upon reaching this line. These increases have varied considerably, the most remarkable instance being a 6600% surge. Based on a hypothetical starting price of $0.50, a similar increase would propel XRP to a new all-time high of $33.5.
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Read Also: XRP to $288? Analyst Makes Compelling Historical References
EGRAG CRYPTO also presents alternative projections, including a 1444% rise to $7.72 and more modest but significant increases to $1.00, $0.90, and $1.36, representing 100%, 80%, and 171% increases. Notably, the historical average of these previous price increases translates to a 2969% surge, which would see XRP reach $15.35.
XRP is trading at $0.5221, down 0.32% over the past 24 hours. Despite the minor decline, all signs point to a massive surge soon. Whales are also entering the XRP ecosystem, suggesting confidence in the digital asset’s future.
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