Altcoins News
By James Thorp
1 / 7
XRP is currently showing strong potential for a major price rally, according to recent analysis by the well-known crypto analyst EGRAG.
2 / 7
EGRAG’s analysis places XRP in the second wave of a five-wave Elliott Wave structure, a pattern that typically signals major price movements.
3 / 7
The key observation in EGRAG’s analysis is that XRP has been forming a cup pattern, which is seen as a bullish structure, and aligns with expectations of an upcoming breakout.
4 / 7
To further support his argument, EGRAG examined the performance of XRP in the first wave of the current cycle, which saw an impressive 733% increase in price.
5 / 7
Looking even further ahead, EGRAG suggests that the final wave, Wave 5, could see even more dramatic price movement.
6 / 7
EGRAG also compared the current cycle to XRP’s price behavior in 2017, noting several similarities.
7 / 7
Despite potential corrections in Wave 4, where XRP may dip to around $8, EGRAG is confident that the final wave of the cycle could lead to XRP reaching new all-time highs.
The Currency Analytics
Want the full story?