Prominent XRP bull EGRAG highlighted an 89% chance for XRP to rise to its short-term target of $1.2.
In a recent investigation into XRP’s behavior, EGRAG noted the emergence of a characteristic “W” wave in XRP’s three-day candlestick pattern over the past nine months.
According to analysts, this formation reflects a historical pattern observed during the pre-rallies phase of a bull market. XRP.
XRP surges to $1.2 in short term
Considering the historical similarities, EGRAG noted that XRP could be on a significant upward trend. Therefore, he emphasized that this formation is consistent with the short-term predicted value of XRP.
Specifically, EGRAG expects XRP to reach $1 on a non-logarithmic scale and $1.2 on a logarithmic scale. At the time of writing, XRP is trading at $0.6317, which suggests that analysts are looking forward to an 89% rally in XRP soon.
#XRP Wave 10 ($1 – $1.2) 🌊🔟:
The 10th “W” pattern aligns very well with the current market settings and indicates a potentially important move.
Target prices are consistent:
1) Non-log: $1
2) Logarithm: $1.2#XRP army Stay steady and show your gratitude… pic.twitter.com/PS6xZi1FFv— EGRAG CRYPTO (@egragcrypto) March 24, 2024
Meanwhile, analysts pointed out in the accompanying chart that this bullish prediction could be invalidated. Specifically, EGRAG highlighted a worst-case scenario in which XRP could plummet by 30% to around $0.44518.
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This prospect is causing concern among enthusiasts. Question It is unlikely that XRP will return to this level again.
Long term goal is $27
Notably, EGRAG’s recent post that XRP could reach $1.2 follows previous analysis in which market watchers predicted various targets for XRP.
In one of these analyses, he said: emphasized the similarities Current moving average of XRP over 20-day and 50-day time frames for patterns observed in 2017.
Following this observation, he offered three interpretations, one of which suggests that XRP could experience a sudden and aggressive surge similar to what the market witnessed in 2017. Masu.
As a result, EGRAG emphasized that XRP’s $27 target for this year’s bull season remains intact and that he expects that value by November of this year.
Earlier this month, EGRAG was suggested Provided Bitcoin hits a new all-time high and experiences a slight retrace before returning to an uptrend, XRP could soar to $17 by May.
At the time of writing, XRP is trading at $0.6317, with little increase over the past 24 hours.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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