XRP Price Enters Pre-Bull Rally Phase: Crypto Analyst Reveals Next Target
March 27 2024 - 7:00PM
NEWSBTC
The XRP price has largely left many of its enthusiasts feeling
dissatisfied during this bull cycle, as it has failed to reach the
$1 mark despite the bullish sentiment surrounding cryptocurrencies.
However, crypto analyst EGRAG CRYPTO believes a $1 XRP price is
still possible in this cycle, as he predicted a price surge in the
near term. From this analyst’s technical perspective, recent price
action has seen XRP forming a “W” pattern, making it ready for a
massive push above $1. XRP Price Pattern Signals A Potential
Massive Move XRP’s highest price so far this year is $0.718. The
cryptocurrency now finds itself perambulating below the $0.65 price
level and even falling to as low as $0.57 in the past seven days.
This has prompted many investors and holders to feel frustrated and
concerned about the poor price performance. Related Reading:
Crypto Outflows Reach New Record High, Will The Bitcoin Decline
Continue? Despite this lackluster performance, many analysts
continue to hold on to a bullish price action for XRP. EGRAG, who
is well-known for his bullish attitude on XRP, has, for the most
part, encouraged his followers on social media to maintain their
positive posture on XRP. His most recent technical analysis, which
he shared on social media, indicates that the price formation of
XRP has now established a bullish pattern, which has been
responsible for significant price increases in the past. This price
spike is particularly based on a peculiar “W” pattern, which he
highlighted on a 3-day candlestick chart of the XRP price.
Interestingly, a detailed look into the chart shared by EGRAG shows
that XRP embarked on the formation of this “W” pattern in July
2023. Now that the formation seems complete, the analyst noted that
XRP could potentially surge to $1 on a standard scale and $1.2 on a
logarithmic scale. #XRP Wave 10 ( $1 – $1.2) 🌊🔟: The 10th “W”
Pattern is exceptionally well-aligned with the current market
setup, signaling a potentially significant move. Target Prices
Remain Consistent: 1) Non-Logarithmic: $1 2) Logarithmic:
$1.2#XRPArmy STAY STEADY and Appreciate the…
pic.twitter.com/PS6xZi1FFv — EGRAG CRYPTO (@egragcrypto) March 24,
2024 At the time of writing, XRP is trading at $0.63. A surge to $1
and $1.2 from the current price level would mean a 58.7% and 90.47%
spike respectively. However, EGRAG also noted the possibility of
the “W” pattern leading to a downturn. In his price chart, he
highlighted a worse case scenario of XRP falling to $0.44518.
What’s Next For XRP? EGRAG is one of the many crypto analysts who
are still ultra-bullish on XRP’s price trajectory. His long-term
price projection for XRP is $27. Other analysts like Mikybull
predict XRP can reach as high as $6. Related Reading: Bitcoin Held
On Coinbase Exchange Reach 9-Year Low, Can Bitcoin Reach $75,000?
Ripple’s lawsuit with the SEC seems to be nearing its end which
could mean the end of a prolonged stunted price growth for XRP. As
a result, we could see XRP surging to new highs very soon. Whether
or not XRP reaches $27 or sets new records, many see it as an
undervalued asset with significant upside potential. This
fundamental growth could see XRP push to $1 for the first time
since November 2021. XRP price recovers above $0.62 | Source:
XRPUSDT on Tradingview.com Featured image from Watcher Guru, chart
from Tradingview.com
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
From Apr 2024 to May 2024
Internet Computer (COIN:ICPUSD)
Historical Stock Chart
From May 2023 to May 2024