- Egrag identifies a recurring pattern in XRP’s trajectory, reminiscent of 2014-2018 trends.
- XRP’s repeated retests of an upward trendline suggest a potential massive rally.
- Historical data and Egrag’s analysis hint at another significant “blast-off” for XRP.
Amidst a recent 14% decline in a single day, XRP stands at a pivotal point, entering a fresh demand zone. Crypto analyst Egrag has provided a compelling analysis of XRP’s potential path, hinting at a significant surge.
Drawing parallels to patterns observed between 2014 and 2018, Egrag notes that XRP has consistently retested a multi-year ascending trendline.
Historically, XRP touched this trendline four times between 2014 and 2017, consistently marking higher lows. A notable touchpoint was in late 2017, aligning with a descent below the 21-day EMA, followed by a meteoric rise to an all-time high of $3.31.
Egrag postulates that XRP might be gearing up for a similar trajectory. With three retests of the trendline since 2020, another dip could lead to a fourth retest and a subsequent fall below the 21-day EMA. Egrag anticipates this to be the precursor to a significant rally, which he intriguingly labels “the big blast-off.”
As the crypto world evolves, Ripple and XRP continue to showcase resilience and potential. With experts like Egrag providing optimistic forecasts, the future for XRP in the crypto realm appears promising, potentially solidifying its position as a leading digital asset.
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