Parabolic Rally Formation Good News for XRP from the Analyst: Get Ready, These Levels Are Possible!

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XRP EGRAG CRYPTO, a prominent member of the community, XRP coin He detected a ‘W’ pattern on the 3-day chart of . In his last post, the famous analyst described this determined pattern as a bullish signal that the altcoin could rise to $ 1.16 in the near future. defined.

EGRAG CRYPTO detected a spotted ‘W’ pattern spanning seven months since July 2023 after the XRP price surge following Ripple’s partial victory in the court proceedings. During this time, XRP entered a downward and upward trend that generally varied sideways.

According to the analyst, the ‘W’ formation formed by XRP is extremely well aligned for a potentially significant move. EGRAG CRYPTO expects XRP to rebound from the current support level around $0.59 and retest this level before breaking the next resistance around $0.75. altcoinhas tested this level twice since July last year.

At the same time, the famous analyst predicts two possible targets for XRP in case of a breakout. These are a non-logarithmic target of $1.02 and a logarithmic target of $1.16. Therefore, in the logarithmic growth scenario, EGRAG CRYPTO expects an early increase in the XRP price and expects it to end before slowing down at the projected target.

Many XRP coin supporters, crypto- While he expects the coin to rise along with other altcoins, the analyst does not rule out the possibility of further price declines. If the altcoin falls below $0.59, it could fall to the next support level near $0.445. However, considering that the overall XRP momentum remains bullish, he considers this a worst-case scenario.

Koinfinans.com As we reported, at the time of writing, XRP is trading at $0.63 after bouncing from the $0.59 support zone, according to TradingView data.


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