The Potential Surge of XRP: Is it about to Explode?
Could the price of XRP skyrocket by 1700% and reach $8 in the coming month? A recent prediction by prominent cryptocurrency analyst Egrag Crypto suggests so. According to Egrag Crypto, there are crucial levels that XRP needs to reach in order to initiate an upward rally towards this price.
In his analysis, the expert emphasizes the significance of XRP closing the next three months candle above the $0.55-$0.58 level within the next 10 days. This move, according to Egrag Crypto, will fuel a strong bullish trend for the cryptocurrency.
Egrag Crypto points out that XRP has shown two Hammer Candles in the 3-month period before major price increases: one from April to June 2016, and another from July to September 2017. To replicate this pattern, XRP must close the next 3-month candle above $0.55-$0.58 within the next 10 days. If this happens, it will form a perfect Hammer formation, signaling a potential mega pump. Egrag Crypto predicts that if the formation occurs, XRP could experience a 1700% increase ($8) starting from July 2024.
The expert advises XRP investors to closely monitor the formation of candles over the next 10 days, as it could lead to impressive and unprecedented price levels. Egrag Crypto suggests that if they need Hammer 1, they may have to wait another 6 months, but the resulting pump would be extraordinary, with an increase of around 5500%, taking XRP to $27. The analyst urges investors to stand firm and not miss out on this opportunity, as they may regret it for the rest of their lives.
As of now, the price of XRP stands at $0.4962, showing a 0.7% increase in the last 24 hours.
XRP’s Potential to Skyrocket by 63,000% Based on Historical Pattern
Experts analyzing the current movement of XRP predict a significant increase for the token this month. Analyst Javon Marks highlights a technical analysis shared on June 3, stating that XRP has been holding a resistance zone for several months, indicating a “hidden bullish divergence setup.” Marks notes that in 2017, this same pattern led to a 63% price increase in less than a year.
Marks writes, “XRP (Ripple) IS HOLDING THE LINE! One of the last times we saw a Hidden Bullish Divergence setup similar to this, prices were up OVER +63,000% in less than ONE YEAR, and we may be here again, right at the breaking point. If XRP hasn’t made a name for itself yet, it looks like it’s about to do so now.”
Another cryptocurrency analyst, Mikybull Crypto, points out that XRP is currently at a level similar to what was seen in 2017 and 2020, which triggered a major recovery. The analyst wonders if this time will be different.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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