This Altcoin Could Strike an Explosive Rally: At least 300%!

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There is some speculation that XRP will experience a significant price increase in the near future. The popular altcoin could be preparing for an explosive rally that could boost its price from 300% to 30,000%. The possibility of XRP recording such an explosive rally was revealed by Egrag, a popular crypto analyst. landed. The analyst also referred to past rallies in this prediction. Here are the details.

In his latest analysis, Egrag drew attention to a structure observed with the 100-day moving average (MA), 200-day moving average and 300-day moving average in the 2-day time frame.

It has been observed that when the 100 MA rises above the 200 MA and then the 300 MA, XRP has always staged a massive rally that has increased its price on unprecedented scales. Egrag named this structure “Kaboom” to reference the explosive growth.

According to the analyst’s data, this crossover first occurred in late 2017, eventually resulting in a 47,000% increase in altcoin price. The rally leapt into the first few months of 2018, leading XRP to hit an all-time high on January 4, 2018. This was the largest rally observed in XRP history.

This bullish cross was also observed in early 2021 when XRP was trading below the $0.3 price zone. The altcoin rose from $0.22 in January 2021 to $1.96 in April 2021, a massive 763% increase in 3 months.

XRP has only witnessed two major rallies since its inception, and the intersection we are talking about came just before both rallies. Egrag pointed out that the crossover is about to happen again and the price of the asset could skyrocket 300%, 3,000% or 30,000% without specifying a fixed rate.

The analyst also asked his followers what the most reasonable rate would be. Some XRP supporters have estimated that there could be an increase of 30,000% if the Ripple-SEC case results in a positive decision. It is worth noting that the dramatic 760% increase in XRP in April 2021 occurred despite legal pressure from the SEC litigation.

You can follow the current price action here.

Source : the crypto basic


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