Egrag Crypto, XRP continues to maintain its price forecast of $27 for The analyst recently compiled various previous analyzes to highlight the opportunities and challenges the altcoin will face on its way to its price target.
The analyst attempted to identify these factors in a composite analysis called the “Bermuda Triangle Chart.” He highlighted seven key points on XRP’s journey to reach $27 in the coming days. These points have also been addressed in previous analyses.
Egrag highlighted the seven arcs representing the seven Fibonacci price targets. These springs are located around key price levels and resistance points. Specifically, the first bow is set at $0.60, the third bow at $1, and the seventh bow at $27. To reach $27, XRP needs to surpass each of these springs.
On the other hand, the analyst marked $1.9 as the “market-clearing price”. Sellers who want to buy and sell at this level are interpreted as the level they are equal to.
The analyst, on the other hand, has identified a “diagonal line” that will act as support when there is a sharp decline. While emphasizing the importance of going above this line, the analyst expects a repeat of the increases between 2015, 2017 and 2022.
The analyst also drew attention to the critical importance of $ 0.60 while determining a level that he interpreted as a “wake-up line”. The analyst interprets this as the level of traction to the “red lake”.
The red lake is one of the most defining regions in XRP’s journey to $27 as it represents an area where bears (sellers) and bulls (buyers) will struggle to take control of XRP’s next price point. The second and third arcs are located in the red lake.
XRP Analysis Goes Much Deeper
According to the analyst, rising above the red lake will bring XRP into an area he calls the stratosphere, which will either push the price higher or prevent it from rising for several months.
Only when XRP reaches this level will it be able to attract the attention of big investors and catch the power to push the price to the $ 27 level.
You can follow the current price action here.
Source : The Crypto Basic