- EGRAG outlines a potential surge of 1160% for XRP based on historical price pump data.
- The analysis leads to an enticing price range forecast of $6.5 to $7 for XRP.
In a captivating exposition of numbers and trends, blockchain expert EGRAG has stirred the crypto community by hinting at a monumental surge awaiting XRP. This revelation unfolded on X, sparking both curiosity and speculative discussions among the crypto enthusiasts.
#XRP To Surge 1160% Why!!!!!!!
This post is based on yesterday’s insightful post looking at the 4-month timeframe, check it out here for better clarity, https://t.co/xCXt0GF6IL. 📆💡
1️⃣ Measuring the percentage moves of these pumps. 2️⃣ Candle pumps must exhibit a… pic.twitter.com/y3Rn8kgfPq
— EGRAG CRYPTO (@egragcrypto) September 27, 2023
The insights draw upon a meticulous examination of previous substantial price pumps within a 4-month frame, aiming to provide a clearer picture of what might be looming on the horizon for XRP.
The core of EGRAG’s analysis lies in evaluating the magnitude of percentage moves during these significant price pumps, specifically where a single candle exhibited an astonishing move of 300% or more. By averaging the data obtained from these events, EGRAG anticipates a jaw-dropping surge of 1160% in XRP’s value. The eventual price prediction lands at a juicy range of $6.5 to $7 per XRP token, aligning perfectly with the famed Fibonacci 1.618 level at $6.5, shedding a ray of optimism for the XRP advocates.
Historical Support Zones
Further delving into the historical trading zones and the formation of what EGRAG dubs as the “Steel Foundation,” it becomes apparent that this underlying support has been pivotal in sustaining XRP’s price movements over the years. The transition from Zone A (2013-2017) to Zone B, post the 2017 rally, marked significant shifts in support levels, mirroring the evolving market dynamics. The anticipation now is around XRP breaking free from Zone B to form a new support, or a “Steel Foundation,” at a much higher price range, between $1.61880 and $2.00000, which is seen as a precursor to the looming mammoth price rally.
XRP’s Market Cap and Indicators of Resilience
Shifting focus to a different analytical perspective by another crypto analyst, JD, the robustness of XRP’s market cap is highlighted. JD’s analysis, based on a monthly chart, underscores XRP’s tenacity in maintaining a stance above a 10-year trendline, despite facing turbulent market phases. Noteworthy is the symmetrical triangle formation, a result of an 8-year downward trendline and a 10-year upward trendline intersection, which suggests a significant rally could be unleashed upon breaching this 8-year trendline.
As XRP currently recuperates to the $0.50 mark, now trading at $0.5082, and showcases a 2.25% increase over the past 24 hours, the predictions by EGRAG and corroborating analyses point towards an intriguing future filled with potential for a colossal uptick in XRP’s valuation.
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