Why Is This Crypto Pundit Warning XRP Investors To Be At Alert For The Next 3-12 Months
May 16 2024 - 4:00PM
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A crypto analyst identified as ‘Egrag Crypto’ has recently taken to
X (formerly Twitter) to issue a warning to XRP investors regarding
a potential bear market that could trigger a massive correction for
the price of XRP. XRP Holders Prepare For More Declines In
2025 According to Egrag Crypto, XRP is expected to enter a steep
bear market stage in 2025. The analyst based his predictions on a
technical analysis tool he called the “Gaussian Channel,” revealing
three distinct technical phases for XRP, including a Green A, Green
B and Green C phase. Related Reading: Ethereum Bull Flag
Breakout: ATH On The Horizon As Major Metrics Turn Bullish He noted
that the bearish phase in Green A had already been completed.
However, the Green B phase is expected to end by June 2025, and
Green C is anticipated to conclude by January 2025. The analyst
further emphasized that the aforementioned dates do not represent
cycle tops but indicate the beginning of a “deep bear market
phase.” He also revealed that the Gaussian Channel was a technical
analysis tool used to visualize price movements of cryptocurrencies
around a mean average price. The purpose of the tool is to help
identify volatility, risks, and certain support and resistance
levels. Additionally, analyzing the historical trends and durations
of the green phases provided by the Gaussian Channel provides
valuable insights that can be used to interpret future price
movements. Presently, the price of XRP has remained
relatively unchanged for the past few months, primarily
consolidating around the $0.5 mark without witnessing any
significant momentum. This lackluster performance can be attributed
to the ongoing legal challenges the cryptocurrency has faced with
the United States Securities and Exchange Commission (SEC) over the
past four years. While Egrag crypto anticipates more
bearish sentiment for XRP in the coming year, the crypto analyst
also suggests that the next 3 to 12 months could present critical
trading opportunities as the market evolves. He cautions XRP
holders to remain vigilant and prepared for potential market
volatility, which could lead to a “life-changing window.”
Analyst Highlights XRP’s Resilience In a previous X post, Egrag
Crypto maintained an optimistic outlook for the price of XRP. He
emphasized the cryptocurrency’s strength and resilience, noting
that XRP was indicating strong bullish signals in its price
fundamentals. Related Reading: Bitcoin Analyst Reveals Why
$57,938 Is The Level To Watch This Week He revealed that if XRP can
maintain a critical position within the “Launching Channel,” a
trading pattern identified by partial wicking candles and ascending
consolidation, the cryptocurrency could see its value potentially
surging to $6.4. Related Reading: Bitcoin Long-Term Holders
Buy The Blood, Snatch Up 70,000 BTC At the time of writing, the
price of XRP is trading at $0.51, reflecting an increase of 3.51%,
over the past 24 hours, according to CoinMarketCap. Egrag
Crypto has advised the broader XRP community to remain “calm and
steady,” as the next three to six months could present significant
opportunities for investors. Chart from Tradingview.com
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