Pundit Predicts Ripple’s XRP Boost To $6 If Price Breaks This “Genuine Wake-Up Line” ⋆ ZyCrypto
The post Pundit Predicts Ripple’s XRP Boost To $6 If Price Breaks This “Genuine Wake-Up Line” ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     XRP continued to show strength over the weekend, following a robust resurgence in the broader cryptocurrency market over the past week. Notably, the seventh-largest cryptocurrency by market capitalization has surged approximately 10%, with its market cap expanding by 9.4% to $34 billion over the past week. This bullish momentum has sparked renewed optimism among analysts, who now predict a significant price surge if XRP can break through a crucial resistance level. On Saturday, popular crypto analyst Egrag Crypto provided an interesting update on XRP’s price potential, suggesting that the cryptocurrency might be gearing up for a major bull run. Notably, the pundit highlighted what he calls the “Genuine Wake-Up Line,” a critical price point set at around $0.64 on the boundary line of a symmetrical triangle consolidation pattern, which has been evolving since 2021. According to Egrag Crypto, closing above $0.64 on a weekly basis could indicate a significant bullish move, potentially pushing XRP towards $0.70 to $0.75. Egrag forecast further suggested that breaking the $0.64 resistance could trigger a chain reaction, pushing XRP towards a short-term target of $1.3 to $1.5. More ambitiously, he predicted that surpassing the “Genuine Wake-Up Line” could set the stage for a longer-term price target of $6.4. Analyst “DustyBC” also noted that XRP has been consolidating around the $0.60 mark, forming a symmetrical triangle on its chart. According to the pundit, breaking out above the upper trendline of this triangle could spark a substantial price rally. He suggested a successful breakout could propel XRP to $2.3 or even higher, depending on market conditions. Advertisement   Meanwhile, another analyst, XRPpunkie, drew parallels between XRP’s current chart patterns and those observed in 2017. In an August 20 tweet, the pundit suggested that if the 2017 fractal pattern continues to play out, XRP could…
Filed under: News - @ September 1, 2024 8:11 pm