The post Analyst Identifies Crucial Period Ahead, Potentially Life-Changing for Holders in Next 3-12 Months appeared on BitcoinEthereumNews.com.

One analyst has utilized the Gaussian channel—which focuses on volatility levels—to predict XRP’s aggressive bullish phase later this year. He expects the crypto to dip over the next few months before embarking on a bull run towards the end of the year, which will end around January. XRP has failed to match its rivals in hitting new heights in this year’s bull rally, and according to one analyst, its aggressive bullish opportunity is winding up. Known to his 51,000 followers on X as Egrag, the analyst applied the Gaussian Channel indicator to project the price pattern of the market’s seventh largest crypto, going as far back as 2014 to identify the patterns that have defined XRP’s rise to one of the mainstay crypto projects. The Gaussian Channel, in Egrag’s words, is “a crucial tool to analyze price movements. It visualizes price fluctuations around a mean, indicating volatility levels.” “The width of the channel is indicative of volatility, aiding in assessing risk. It also helps in identifying support & resistance levels, & in estimating the probability of future price movements,” he added. While not many experts use the Gaussian Channel for price analysis, Egrag describes it as “an invaluable tool for risk management & informed decision-making in trading.” The analyst identified four zones over the past decade that have defined XRP’s price, labelling them A, B, C and D, as shown in the image below. In the current cycle, Egrag says we have already passed Zone A, and we should finish Zone B within the next six weeks. This second zone is marked by hyper growth, as happened in 2017/18 when XRP shot up from $0.255 to an all-time high of $3.84 in just one month. The analyst believes that we could be entering Zone C in July and that it…

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Filed under: News - @ May 18, 2024 5:08 am