The crypto sphere, especially the XRP community, was left thrilled with much enthusiasm, following XRP’s price projections by popular chartist Egrag Crypto.
Delving into XRP’s complex data patterns, the crypto expert noted that XRP could rally to price highs of $1.4, $3.7, or $200 depending on its trajectory based on historical data prints.
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In addition, Egrag noted that the interaction between the 21 Exponential Moving Average (EMA) and the 50 Moving Average (MA) on the weekly time frame exposed clear signals for XRP’s price rally.
#XRP 21 EMA & 50 MA (2.3X, 500X or 7.7X)!!! 🚀📈
The Weekly time frame interaction between the 21 (exponential moving average) and 50 (Moving Average) has delivered a clear signal for a #Bullish momentum and an astounding PUMP. 💹💥
🟢 Cross 'A': 230%
🟢 Cross 'B': 50,000%
🟢… pic.twitter.com/tRbU7Q6bhX— EGRAG CRYPTO (@egragcrypto) July 19, 2023
Moving Averages: What They Signify?
The 21 EMA and 50 MA are crucial technical indicators for analyzing crypto charts. The 21 EMA indicator keeps track of an asset’s average price over the last 21 periods with an emphasis on recent data.
On the other hand, the 50MA analyzes the average price over the last 50 periods. On occasions where these averages, the 21 EMA and the 50 MA cross each other, it often points to a possible shift in momentum.
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Based on records, XRP’s market value is always bound to spike whenever the moving averages cross in a bullish pattern. The past few weeks have seen these market averages appear likely to interact again.
Egrag, having noticed the possibility of the above impeding interaction, called the attention of his 32k Twitter followers to three possible trajectories that XRP could thread, depending on the type of the cross. He highlighted these potential trajectories into three crosses.
Cross A – Occurred In 2015 With a Remarkable Price Surge For XRP
Replicating this 2015 cross pattern would imply a 230% spike in XRP’s value, which could culminate in pushing XRP’s price to a potential price range of $1.3 to $1.4.
Should XRP succeed in pulling off through this critical zone, it would undoubtedly bring the coin close to its previous all-time high.
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Cross B – Happened In 2017
This pattern played out in 2017, projecting a mind-blowing 50,000% surge that would bring XRP’s price mark to about $200.
However, this pattern would require a significant boost, especially regarding major adoptions like Bank of America announcing XRP incorporation into its platform or BlackRock launching an XRP exchange-traded fund.
Egrag seemed to share a strong conviction for the above pattern, comparing it to a trip to the legendary “Valhalla City of gains.”
Cross C – Played Out In Mid 2020
This pattern points to a potential 777% price surge that could bring XRP’s worth to about $3.7; this is close to its previous ATH and simultaneously in a critical zone.
This pattern will usher XRP into a new round of exponential growth, according to Egrag.
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