XRP Giant Cup Structure May Take XRP From $1.2 to $27 – The Crypto Basic

Prominent market analyst EGRAG remains confident in XRP’s future price trajectory, claiming that the giant cup structure could push the asset price from $1.2 to $27.

EGRAG unveiled for the first time “XRP Giant Cup” analysis In a report from November last year. At the time, XRP was trading in the $0.65 to $0.73 price range during an uptrend that began late last month.

Giant cup structure

Analyst charts revealed that since XRP fell from its all-time high of $3.3 in January 2018, its price movements have taken the shape of a giant cup. This giant cup structure was formed as the crypto asset plummeted from its March 2020 low of $3.3 to a low of $0.11.

Following the low of $0.11, XRP It recorded an upward price trajectory and a comeback that formed the rest of the cup structure. Nevertheless, the data on the chart suggests that the cup's cover is a solid resistance line that analysts call stratospheric.

According to EGRAG, the downtrend line, the stratosphere, has been acting as a tough resistance point since the XRP crash. High price of $3.3 In 2018, nearly six years of formidable obstacles were posed.

In a previous analysis, the analyst highlighted Fibonacci 0.702 in the $1.2 price range on a two-week time frame. He confirmed that this his $1.2 price base overlaps with the current position in the stratosphere.

He calls this point the “Valhalla Gateway” due to its importance in the trajectory of XRP. According to analysts, whether XRP can break through his Fib. 0.702 at $1.2, which would result in a breakout above the stratosphere. Such a breakout isvalhalla” level of significant price increases.

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XRP could rise from $1.2 to $27

his latest analyst We are offering some price targets if XRP breaks above $1.2 to reach Valhalla. After breaking above $1.2, XRP could rise to $1.6 and regain its current high of $3.3. Exceeding the ATH leads to a new ATH of $7.5.

However, EGRAG's forecasts suggest the possibility of a much larger rise. His targets include a potential rally to $13 and an eventual rise to $27.Analysts are always defended the story This means that XRP has the potential to earn $27.

XRP is currently trading at $0.5329, capitalizing on the latest Bitcoin (BTC) resurgence to recover 4% of the value lost in the past 24 hours. At this stage, EGRAG says that XRP's recent price movements have followed a cup structure, with the asset hitting higher lows and rising higher.

Amid the current market uncertainty, analysts emphasized that XRP needs to maintain the $0.55 level, which serves as a pivotal support line for the asset.He expressed confidence that XRP will not record a weekly closing price. less than $0.50.

However, EGRAG cautioned against the lower trend line, which he calls the Atlas line. This trendline acts as strong support for his XRP, which is currently at $0.43. Although he noted that a drop to this level is possible, he remained focused on the big picture where XRP would argue for a price of $27.