EGRAG CRYPTO (@egragcrypto), a well-known analyst in the XRP community, recently shared a detailed technical analysis of XRP’s price action in a 3-day timeframe. His latest post emphasizes the significance of the current price range, highlighting the interaction between the exponential moving average (EMA) and the 0.888 Fibonacci level.
The analysis also raises questions about whether XRP will fill a Fair Value Gap (FVG) near $1.54, much lower than its current price, or continue its upward trajectory.
At the time of EGRAG CRYPTO’s analysis, XRP was trading at $2.2760, showing a strong 12.64% increase. The price was between the EMA and the 0.888 Fibonacci level at $2.2321.
EGRAG CRYPTO suggests that closing above this Fibonacci level on the 3-day chart would be a bullish confirmation. Additionally, a close above the EMA would reinforce positive momentum and indicate a potential continuation of the cryptocurrency’s upward trend.
The analyst also noted that XRP has tapped into the equilibrium level, which could act as a decision point for future price movement. However, he questions whether the price will retrace further to fill the remaining Fair Value Gap at $1.54. If the asset moves downward to this level, it could present a major buying opportunity before another rally.
EGRAG CRYPTO’s analysis aligns with other recent projections regarding the digital asset’s long-term price movements. The analyst has predicted a massive surge in the coming months, forecasting that it could reach $27, and indicating strong bullish sentiment within the crypto community.
Another analysis discusses an XRP cycle analysis predicting that the asset could hit $33 by May 2025. If this projection materializes, current price levels may represent an early stage in the asset’s broader uptrend.
The chart highlights several Fibonacci retracement levels that traders should monitor. The 0.786 level at $1.5706 and the 0.702 level at $1.1758 could become strong support if XRP drops further.
However, EGRAG CRYPTO has continually expressed confidence that a big leap is coming. This bullish stance suggests that maintaining the price above the 0.888 Fib. level is key to sustaining upward momentum.
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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