Home Altcoins News XRP Price Could Surge to $1.4, $3.7, or $200, Chartist Says

XRP Price Could Surge to $1.4, $3.7, or $200, Chartist Says

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Renowned chartist Egrag has made an exciting projection for XRP. According to the analysis, XRP has the potential to surge to $1.4, $3.7, or $200, depending on the trajectory it mirrors from historical patterns.

Egrag noted that the interaction between the 21 Exponential Moving Average (EMA) and the 50 Moving Average (MA) on the weekly timeframe had unveiled a clear signal for a bullish momentum and a potentially astonishing pump in XRP’s price.

For context, the 21 EMA and 50 MA are essential technical indicators in chart analysis. The 21 EMA tracks the average price of an asset over the last 21 periods, with more weight given to recent data. However, the 50 MA calculates the average price over the last 50 periods. When these moving averages cross each other, it often signals a potential shift in momentum.

Historically, each time the moving averages crossed in a bullish pattern, it resulted in a price rally. Depending on the nature of the cross, the rally could be a minor one or a massive pump.

As these moving averages look close to interacting in recent times, Egrag has called attention to three potential trajectories XRP could follow depending on the nature of the cross. Each of these trajectories mirrors a previous rally.

Cross A

Cross ‘A’ signifies a price surge of around 230%. Should XRP imitate this pattern, it could reach a price range of $1.3 to $1.4. Such a move would place the cryptocurrency in a critical zone, and flipping this zone would make reaching its all-time high (ATH) more achievable.

This cross occurred in 2015 and resulted in an impressive price rally. However, investors should be prepared for the possibility of an intense retracement in price.

Cross B

Cross ‘B’ is the most intriguing of the three, suggesting a staggering 50,000% price increase that could catapult XRP’s value to approximately $200. This pattern occurred in late 2017, leading to XRP’s all-time high value in 2018.

Egrag noted that XRP would need a significant catalyst to achieve this astronomical pump, such as major adoption news like Bank of America using XRP or BlackRock launching an XRP exchange-traded fund.

Egrag views this possibility as high and has a bullish stance on XRP’s trajectory, anticipating a journey to the mythical “Valhalla city of gains.”

Cross C

Cross ‘C’ occurred in mid-2020 and points to a potential 777% increase, projecting XRP’s price to land around $3.7. This price level would bring XRP close to its previous ATH and place it within a critical zone.

According to Egrag, flipping this zone would open the doors to what he calls “Valhalla,” suggesting that even more outstanding gains could be in store. Meanwhile, XRP has continued to face resistance in the short term, currently trading for $0.7744.

Conclusion

The potential price trajectories for XRP outlined by Egrag are certainly ambitious. However, the historical data does suggest that these levels are possible. Ultimately, the actual price of XRP will depend on a number of factors, including market sentiment, regulatory developments, and broader cryptocurrency trends.

As with any financial analysis, it is essential to exercise caution and consider multiple factors before making any investment decisions.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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