250% Possible: This Altcoin Could Take Off!

According to Egrag Crypto, a prominent cryptocurrency analyst, the popular altcoin XRP Also found a price estimate for it. Accordingly, the crypto asset could rise to $1.4. XRP last saw the $1.4 price level in May 2021. So how will this rise happen?

egrag’s last estimatedIt is based on a falling wedge pattern formed by XRP in the current 21-month downtrend. The analyst noted two possible price scenarios for the altcoin: a drop to $0.22 if the downtrend continues, and a rise to $1.4 if the trend reverses.

The descending wedge pattern can be interpreted as a sign of reversal. This pattern is considered a bullish pattern as it shows that selling pressure is decreasing and buyers are taking control. So a trend that could potentially lead to a price increase.

Koinfinans.com As we reported, Egrag stated that XRP can reach up to the $ 1.4 price point when it exits this model. However, he explained that the $0.786 Fibonacci point will act as an important resistance point for the altcoin price. Specifically, if XRP can beat the resistance at this level, an uptrend to $1.4 becomes even more likely.

Besides, he is not the only one to predict bullishness for XRP. Analyst Crypto Bull also noted the other day that the asset is currently forming a bottom pattern similar to the one observed in 2017 prior to its meteoric rise, warning “Beware”.

You can follow the current price action here.

Source : the crypto basic

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