According to market analyst EGRAG, XRP is primed for a significant price increase of 41%, which could pave the way for substantial gains in the future. Despite XRP’s struggles to surpass the $0.5 mark, it has garnered attention for its potential to replicate a pattern reminiscent of its meteoric rise in 2017.
EGRAG’s recent report indicates that XRP is on the cusp of a modest 41% price surge, which he believes will ultimately lead to a much larger rally, signaling a breakout to the upside. Drawing on historical data from 2017, where a similar 41% increase preceded a remarkable spike in XRP’s price, EGRAG is confident that history may repeat itself.
The analyst’s macro perspective on XRP’s price chart paints a bullish picture, with a symmetrical triangle formation currently in play, reminiscent of the pattern observed in 2017. EGRAG envisions a potential target of $27 for XRP, with key Fibonacci resistance levels at $3.31, $7.36, and $13.5 along the way.
To navigate these potential price movements, EGRAG advises investors to adopt a Dollar-Sell-Average strategy, allowing them to systematically sell portions of their holdings as prices increase. Additionally, he highlights a bullish signal on the monthly time frame, suggesting that XRP could reach $0.75 in the near term, with significant price fireworks expected in July 2024.
It is important to note that this content is for informational purposes only and should not be construed as financial advice. Readers are urged to conduct their own research before making any investment decisions. The Crypto Basic does not take responsibility for any financial losses incurred.
