Market analyst EGRAG has shared his optimistic prediction for XRP, utilizing the Super Guppy Indicator metric to predict a rise of XRP to even greater heights.
Notably, analysts typically use this technical indicator to identify trend reversals and potential breakout opportunities. Interestingly, EGRAG has found that this tool suggests that XRP may be gearing up for a significant price increase similar to previous bull runs.
XRP Super Guppy Indicator
Eglág Highlight The Super Guppy on 5-day XRP chart has consistently provided reliable signals for major price movements. According to analysts, the indicator uses two sets of moving averages of different periods to pinpoint potential changes in market trends.
What caught EGRAG's attention was the nature of XRP's price fluctuations, which followed a specific pattern – specifically, a recurring pattern of a large drop (marked in red) followed by a sudden rise in price (shown in green).
Looking at the 5-day chart, the first big red drop started in May 2015 and ended in February 2017. This bearish period XRP's long-term consolidation phase, The price is stuck below $0.01.
However, once the red phase ended and the green phase began, XRP skyrocketed. By January 2018, XRP had soared to an all-time high of $3.31, a phenomenal increase from its February 2017 low of $0.005.
XRP Uptrend in 2021
XRP peaked at $3.31 in January 2018 before falling back and entering another long period of red ink decline starting in November 2018. This bear market continued until June 2020, when XRP hit a low of $0.1769.
Notably, the next green phase began in October 2020, with XRP rising to $1.96 by April 2021. However, it faced a correction before reaching previous levels. Best everThis adjustment culminated in the third descent designated by Super Guppy.
Now, with its third red dip now over, EGRAG claims that XRP will see another big surge. Comparing XRP’s past price movements to the current situation, the analyst suggests that the market could be gearing up for a surge similar to the 2017-2018 bull run.
Projected XRP Target
EGRAG also RippleHis end goal is an ambitious $99 based on Fibonacci extensions and past market trends, while key milestones along the way include $3.37 and $13.69.
According to his theory, XRP could follow a familiar path of an extended red period (bear market) followed by a strong green phase (bull market), with multiple stages of bullish momentum leading to this lofty price target.
Disclaimer: This content is for informational purposes only 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. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
