Ripple (XRP) has recently attracted the attention of investors by experiencing a significant price increase. The price of XRP rose to $0.57 in the last 24 hours. However, it failed to maintain this level and is currently trading around $0.56.
This increase indicates that XRP has experienced a significant increase of up to 10% since February 9. This situation, cryptocurrency This is consistent with the unit being the subject of constant speculation. Finally, a popular analyst, EGRAG CRYPTO, speculated that XRP may be on the verge of a “mega move.” stated.
According to the analyst, XRP “offers a potentially life-changing opportunity.” In this context, this points to an important development in the cryptocurrency world.
Simplifying a seemingly complex combination, Trader stated:
He noted that XRP’s 2-week candle is stuck between the 21 EMA and the 55 MA. Downside risk lies at $0.45, while a close above $0.60 would represent a close above the 2-week 21 EMA in addition to breaching the local resistance level.
The analyst noted that the above could be the beginning of a “mega move.” The analyst suggests that if this situation occurs, a “W” formation will be completed and the ascending triangle formation will end. This is likely to represent a 500% increase from the current price.
According to the analyst, the most striking point is as follows:
The idea that a $2 price increase amounts to a 7000% increase is likely to be incomprehensible to most people. But with this benefit kicking in, it’s possible this is just the beginning of a decade-long trend.
