- Renowned chartist spots a reliable inverted hammer pattern on XRP’s 2-month chart, forecasting a $5.5 rally.
- XRP’s pattern hints at a possible reversal, mirroring past rally trends.
- XRP’s bullish run aims for an all-time high, silencing skeptics.
Famous chartist Egrag’s new XRP prediction has excited the crypto community as he spotted an inverted hammer pattern on XRP’s 2-month chart, hinting at a possible 950% surge to reach an incredible $5.5.
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This pattern holds substantial significance, having historically heralded significant price surges. The inverted hammer pattern, which involves a price drop followed by a recovery, signals a possible trend reversal. Egrag notes that this pattern previously triggered a rally in 2021, resulting in XRP’s price reclaiming the $1.9669 mark within four months.
Drawing comparisons between the present and the past, Egrag predicts that history might repeat itself. As XRP forms another inverted hammer after a two-year gap, the analyst highlights the $0.80 mark as a critical macro resistance level to overcome.
Egrag envisions an initial target of $2.3, which could be a launching pad for XRP’s trajectory to $3.3. However, the ultimate goal is an impressive $5.5, a threshold that Egrag has dubbed as the “Valhalla” of XRP’s potential price movements.
At its current price of $0.5238, a surge to $5.5 would necessitate an astonishing 950% increase. If Egrag’s prediction proves accurate, this bullish rally would rewrite XRP’s recent history and silence the doubts and skepticism surrounding the cryptocurrency.
As the market watches with bated breath, the inverted hammer pattern on XRP’s chart stands as a beacon of hope for investors and enthusiasts alike.
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