- An analyst predicts XRP’s “Atlas Line” at $7.5, with an initial target of $1.5, suggesting a significant price upswing.
- The key price zone between $6.5 and $7.5 is identified as Fibonacci 1.618, where profit-taking is expected.
- If XRP surpasses the Fib 1.618 level within a week, subsequent targets in the mid-double digits are anticipated.
A renowned cryptocurrency analyst has forecasted a potential major upswing in XRP’s price, driven by a confluence of key technical indicators and current market dynamics.
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According to Egrag Crypto, a respected figure in crypto analysis, the “Atlas Line” for XRP has been elevated to $7.5, with an initial milestone set at $1.5. Egrag Crypto’s analysis hinges on the anticipated breakout of the “White Triangle” pattern, a pivotal technical structure suggesting a significant upward movement.
The report delineates a critical price zone between $6.5 and $7.5, identified as the Fibonacci 1.618 level, where significant profit-taking is likely to occur. This zone is pivotal for traders and investors, serving as a barometer for potential price fluctuations and strategic repositioning.
If XRP can breach the Fib 1.618 threshold within the next week, the analyst envisions subsequent targets in the mid-double digits, aligning with the Fibonacci 2.414 and 2.618 levels. Such an achievement would underscore a remarkable bullish trajectory for XRP, contingent on the continuation of current market momentum.
Moreover, Egrag Crypto underscores the strategic role of the XRP community, urging steadfastness as the token prepares for potential gains. The analyst projects that profits from other altcoins will eventually flow into XRP, reinforcing its position as the market’s “black horse.” This metaphor highlights the unexpected yet powerful potential of XRP in the broader crypto landscape.
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