XRP sets sight on attaining a 30,000% pump as predicted by the expert crypto analyst, Egrag. Egrag made his latest disclosure based on an analysis obtained from XRP’s chronological performance. A 30,000% pump for XRP implies that the token will ascend from its current price to about $127.
What Is This Historical Data Saying?
Historical data has revealed that XRP’s bearish market pattern will soon be over. From its Onset, XRP is renowned for always attaining a bullish trend by enlisting several closes above the Gaussian Channel. According to Egrag, the pattern involving the Gaussian Channel appeared twice in the past. These two occurrences preceded a run of massive rallies for XRP.
Why Is The Gaussian Channel Important?
The Gaussian Channel is just like every other trend indicator that analyzes the crypto markets and points out different trends in asset prices. But unlike other conventional trend indicators that are liable to suffer lag, the Gaussian channel reduces lag by adopting statistical calculations based on historical price data to develop a channel that will revolve around the current prices of crypto assets.
Going further, Egrag gave an instance in 2017 after XRP had recorded multiple closes above the Gaussian Channel, it got hit with a massive 30% dump in the later stages of the year. However, XRP recovered after about 120 days by recording a remarkable 30,069% rally from late 2017 to January 2018. Similar events happened in 2020 and 2021 resulting in massive rallies in both years.
#XRP Gaussian Channel & ABC ( 30,000% PUMP):
1) Multiple closes above Gaussian Channel
— EGRAG CRYPTO (@egragcrypto) May 10, 2023
Could XRP Be Replicating A Normal Pattern
Lately, XRP appears to replicate similar trends that always precede its massive rallies. According to Egrag, XRP is facing a larger dump than the one suffered in 2020. Egrag added that XRP will experience a longer bearish stronghold that may extend for more than 75 days after which the bullish run comes to play.