XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance
The post XRP Set To Soar Nearly 900% To $31, Analyst Highlights Key Resistance appeared on BitcoinEthereumNews.com.
XRP aficionados are ecstatic when market analyst EGRAG predicted an 888% increase in the cryptocurrency’s value. This optimism isn’t just wishful thinking; it’s based on trends seen on XRP’s one-month chart that mirror the cryptocurrency’s rapid success in 2017. As XRP struggles to reclaim prior highs, many traders wonder if this is the beginning of another bull run. EGRAG’s chart analysis shows that XRP almost touched the red rising support line four times. The pattern is similar to the price movements this currency experienced during the 2017 bull run as XRP popped from a value of $0.003 to a solid $3.31 in January 2018.The repeat of this pattern suggests that XRP may soon embark on a similar course. #XRP 888.88% – The Secret Behind the 8’s : Check out the chart below — it’s presenting a crucial pattern showing #XRP is echoing the chart behavior from 2017! Back then, the Red Ascending Support Line was tapped 4 times before sparking the legendary 2017 #BullRun. … pic.twitter.com/dXPeZisHmA — EGRAG CRYPTO (@egragcrypto) September 27, 2024 Breaking Through Key Resistance Levels But what would make XRP reach such an explosion? According to EGRAG, the first big resistance stands at the all-time high of $3.31. He feels that when this price will be recaptured, it will lay the groundwork for a rally. Interestingly, EGRAG implies that just 20% of the gains observed in 2017 could pave the way for a new rise, matching the important Fibonacci extension level of $31. If it does break to $31, that will be a reflection of market sentiment at the moment and might even draw more investors in. Statistical data shows that in previous bull runs, price milestones greatly influenced market psychology. In fact, the rise from $0.003 to $3.31 was not only influenced by numbers but also…
Filed under: News - @ September 29, 2024 5:05 am