Expert Predicts 28,250% Pump to $149 for XRP

xrp

XRP is currently undergoing a pullback that has resulted in the reversal of a significant portion of its gains made on July 13. Despite this short-term decline, there is a prevailing optimism among experts about the cryptocurrency’s future prospects. One prominent crypto analyst named Egrag, known for his insights, is resolute in maintaining his ambitious price prediction for XRP, which stands at a remarkable 28,250%.

This forecast is a continuation of Egrag’s earlier assessment shared on February 25 and reaffirms his steadfast belief in XRP’s trajectory over the long term.

Read Also: XRP Dips Below $0.55 Amid Legal Updates and Market Turmoil: 3 Key Reasons

Egrag’s examination is primarily focused on a specific technical tool termed the Average Sentiment Oscillator (ASO), which is commonly referred to as the “Alligator Jaw.” Egrag has highlighted intriguing patterns detected through the utilization of the ASO indicator, drawing from historical data as evidence.

XRP Price Trends: Unveiling the Cross of Light Blue and Pinkish Lines

A distinctive trend within XRP’s price movements is capturing the attention of experts. Central to this trend are two key lines on the chart: the Light Blue Line and the Pinkish Line. Notably, when the Light Blue Line crosses over the Pinkish Line, XRP experiences significant price surges. Conversely, when the Pinkish Line crosses above the Light Blue Line, XRP undergoes price declines. This recurring phenomenon, observed since 2017, provides a dependable framework for understanding XRP’s price dynamics.

An illustrative example of this pattern emerged in 2017 as the Light Blue Line surged above the Pinkish Line. This bullish crossover fueled an extraordinary 55,000% price surge, propelling XRP to an all-time high of $3.31 in January 2018.

However, subsequent trends revealed a reversal. The Light Blue Line gradually descended while the Pinkish Line ascended, culminating in a crossover in mid-2018. This event triggered a visible price drop for XRP.

Remarkably, history repeated itself in 2021 with another bullish pattern. The Light Blue Line’s rise above the Pinkish Line led to a notable 1,500% price increase, peaking at $1.9669 in April 2021. As anticipated, this surge was trailed by a subsequent price correction.

In essence, the interplay between the Light Blue and Pinkish Lines on the XRP chart offers valuable insights into the cryptocurrency’s price direction. As market observers continue to monitor these crossovers, they gain predictive insights into the potential trajectories of XRP’s value in the dynamic cryptocurrency landscape.

Read Also: XRP Attracts More Whale Investors Despite Drop Vital Support Level

XRP Resumes Bullish Momentum with Another Cross

Amidst the recent market fluctuations, a familiar bullish cross is reemerging for XRP. This pattern, initially highlighted by Egrag in February, is once again unfolding despite the cryptocurrency’s recent setbacks. The indicator in focus is the Alligator Jaw, and its alignment suggests a potential upswing in the near future.

Drawing inspiration from past remarkable price surges, Egrag has put forward an audacious prediction of a staggering 28,250% increase. While this forecast has captured the attention of both seasoned traders and newcomers, it’s worth noting that Egrag has refrained from specifying a projected timeline for this anticipated price rally.

To contextualize this projected percentage surge, consider that such an increase from XRP’s current value of $0.5268 would propel its price to an astonishing $149.35.

Egrag’s most recent analysis follows a notable recovery campaign orchestrated by XRP subsequent to its recent downturn. Despite experiencing a retracement that wiped away the majority of its gains made on July 13, the overall sentiment surrounding XRP remains optimistic. An intriguing aspect is the increasing accumulation of tokens by whales, with over 221 wallets now holding more than 16 billion XRP.

As XRP navigates these market dynamics, the recurrent bullish cross and the insights of experts like Egrag offer intriguing prospects for its trajectory moving forward.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :

Facebook
Twitter
LinkedIn
Telegram
WhatsApp