- Egrag Crypto identifies the XRP price levels ($0.60, $0.75, $0.95, $1.3) crucial for confirming a bullish trend.
- Egrag envisions a 50% XRP drop but anticipates a surge to $27 in the next bull run, drawing parallels to the 2017 market movement.
- Egrag warns of a potential XRP flash crash to $0.28 and advises strategic buying opportunities if specific chart channels align unfavorably.
Cryptocurrency analyst Egrag Crypto has unveiled key price levels for XRP, identifying $0.60, $0.75, $0.95, and $1.3 as crucial thresholds to confirm a bullish trend.
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In a bold prediction, Egrag envisions the possibility of XRP experiencing a 50% drop, drawing parallels to the market movement in 2017. Despite the potential dip, the analyst anticipates a significant surge in the next bull run, akin to the 61,000% rise witnessed in 2017. This projection suggests that XRP could reach as high as $27, showcasing Egrag’s optimistic outlook for the cryptocurrency’s future.
On a cautionary note, Egrag warns of a potential flash crash for XRP to $0.28, contingent upon the alignment of specific chart channels, particularly the blue channel with the red channel. Despite this bearish scenario, Egrag suggests that strategic buying opportunities may arise if the flash crash occurs and XRP subsequently rises to $0.41.
Adding intrigue to XRP’s price action, Egrag highlights that the cryptocurrency has been navigating the blue channel for nearly 600 days since its breakout in May 2022. Conversely, XRP spent 580 days in the red channel before significantly surging.
Egrag suggests that market makers, responsible for potential independent surges, could engineer a rise to $5 for XRP. However, if the market experiences the worst-case scenario, the analyst advises seizing the opportunity to obtain XRP at a more favorable price.
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