There’s a thrilling buzz of optimism in the crypto space, with cryptocurrency expert Egrag Crypto forecasting an exciting trajectory for Ripple’s XRP.
A Triumvirate of Crosses – Decoding Egrag’s Analysis
Diving into XRP’s complex data patterns, Egrag Crypto identified three significant price intersections, namely Cross ‘A’, ‘B’, and ‘C’, in the currency’s weekly time frame. Each cross, representing an interaction between the 21 exponential moving average (EMA) and 50 moving average (MA), suggests a bullish momentum and potential skyrocketing of XRP’s price.
Replicating the 230% price surge of Cross ‘A’ from 2015 could push XRP into a crucial price range of $1.3 to $1.4. A successful transition through this critical zone might well put XRP within touching distance of its all-time high (ATH). However, investors should be ready for possible sharp price pullbacks.
Cross ‘B’ forecasts an eye-watering 50,000% price hike, potentially sending XRP’s value soaring to a staggering $200. This pattern, which harks back to 2017’s rally, would require a substantial boost, perhaps with significant adoption news like Bank of America incorporating XRP or BlackRock launching an XRP ETF. Egrag Crypto sees this scenario as highly possible and is bullish on this course, likening it to a trip to the legendary “Valhalla City of gains.”
The final pattern, Cross ‘C’, indicates a potential 777% price jump, which would bring XRP’s value close to $3.7. This situation could put XRP near its previous ATH and in a critical zone. A successful transition might usher XRP into another round of exponential growth.
How XRP is Doing Now
At press time, XRP trades at $0.77. Its price experienced a significant 100% surge in the wake of a landmark legal decision that XRP is not a security. However, this recent success now faces a challenging period of consolidation.
Since Ripple’s legal victory over the SEC, the company has been redoubling its efforts to drive XRP Ledger adoption. The highlight so far has been its participation in a $54 million investment for Futureverse, a metaverse project.
