{"id":33743,"date":"2023-12-05T12:54:12","date_gmt":"2023-12-05T16:54:12","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33743"},"modified":"2023-12-05T12:54:12","modified_gmt":"2023-12-05T16:54:12","slug":"xrp-price-set-to-skyrocket-1100-on-this-signal-crypto-analyst","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/05\/xrp-price-set-to-skyrocket-1100-on-this-signal-crypto-analyst\/","title":{"rendered":"XRP Price Set To Skyrocket 1,100% On This Signal: Crypto Analyst"},"content":{"rendered":"

In crypto trading, history often repeats itself, or at least rhymes. That\u2019s why it can be crucial to spot historically important price signals and patterns. A recent technical analysis by Egrag Crypto has spotlighted<\/a> such a pattern for XRP, indicating a possible massive price increase.<\/p>\n

This analysis hinges on the observation of a bullish crossover between the 21 Exponential Moving Average (21 EMA) and the 55 Moving Average (55 MA) in the 2-week chart of XRP\/USD. Egrag states, \u201cXRP Rockets: 21 EMA & 55 MA Signal Explosion: Let\u2019s decode the XRP trajectory \u2013 my focus? Just two pivotal weekly candles after the crossover between 21 EMA & 55MA.\u201d<\/p>\n

Will The XRP Price Soar To $7?<\/h2>\n

The chart provided by Egrag Crypto highlights the XRP price movements in the two distinct scenarios when this rare bullish signal occurred. The first bullish crossover<\/a> of the 21 EMA and 55 MA in the 2-week chart occurred in March 2017 (scenario A). Following this signal, the XRP price saw \u201ctwo striking 2-week candles. The initial one surged by around 90%, trailed by an electrifying 1100% spike,\u201d Egrag remarked.<\/p>\n

For the second time in the history of the XRP price, the signal flashed at the end of December 2020. This time, the XRP rose by 100% in the first candle, succeeded by an 84% surge in the second 2-week candle which marked a collective 200% upswing.<\/p>\n

According to the crypto analyst, there\u2019s a high probability that these scenarios will repeat themselves. \u201cDrawing parallels from past bullish runs, my opinion syncs with historical data,\u201d Egrag remarked.<\/p>\n

Notably, the chart of Egrag also features an ascending trend line, a bullish indicator, which XRP has tested twice, as shown by the two green circles in mid-2022 and early 2023. These taps on the trend line are critical, as they suggest that each touch is a test of support where the price finds enough buyers to begin a new upward movement.<\/p>\n

The analyst speculates that XRP could dip slightly more to tap the ascending trend line a third time, which could be a precursor to a significant price rally. This potential third tap on the trend line is viewed as a buying opportunity that could precede a considerable price surge.<\/p>\n

Following this third retest of the trend line, Egrag expects two possible scenarios based on the bullish crossover of the 21 EMA and 55 MA. In scenario A, the crypto analyst envisions a dramatic rise in the XRP price<\/a>, projecting a target of $7.00, which would represent a staggering increase of 1,139.35% from the current price.<\/p>\n

Scenario B suggests a more conservative target of $1.80, which would still be an impressive gain of 218.82%. The \u201cNo Return Zone,\u201d marked in red at the $1.80 level, is set just above scenario B\u2019s target. It indicates a critical threshold that could either act as a resistance zone or confirm a strong bullish momentum if the price sustains above it.<\/p>\n

Broader Market Forces<\/h2>\n

The crypto analyst is also aware that the Bitcoin price traditionally plays a major role for altcoins such as XRP. He therefore notes on the current market conditions, \u201ceyes fixed on BTC as the majority anticipates a $48K-$50K peak, potentially followed by a pullback, igniting a widespread alt season. Yet, what\u2019s intriguing? A scenario where BTC skyrockets to ATH, retraces, and unleashes a truly wild alt season.\u201d<\/p>\n

The analyst\u2019s perspective leans towards an initial spike to between $7 to $10, followed by a significant retracement, and then an even more substantial rise<\/a> to the levels of $20 to $30. On being queried about the extent of the expected retracement from the $7-$10 range, Egrag Crypto answered an \u201caggressive $1.3-1.5\u201d drawdown.<\/p>\n

At press time, XRP traded at $0.61095.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In crypto trading, history often repeats itself, or at least rhymes. That\u2019s why it can be crucial to spot historically important price signals and patterns. A recent technical analysis by Egrag Crypto has spotlighted<\/a> such a pattern for XRP, indicating a possible massive price increase.<\/p>\n

This analysis hinges on the observation of a bullish crossover between the 21 Exponential Moving Average (21 EMA) and the 55 Moving Average (55 MA) in the 2-week chart of XRP\/USD. Egrag states, \u201cXRP Rockets: 21 EMA & 55 MA Signal Explosion: Let\u2019s decode the XRP trajectory \u2013 my focus? Just two pivotal weekly candles after the crossover between 21 EMA & 55MA.\u201d<\/p>\n

Will The XRP Price Soar To $7?<\/h2>\n

The chart provided by Egrag Crypto highlights the XRP price movements in the two distinct scenarios when this rare bullish signal occurred. The first bullish crossover<\/a> of the 21 EMA and 55 MA in the 2-week chart occurred in March 2017 (scenario A). Following this signal, the XRP price saw \u201ctwo striking 2-week candles. The initial one surged by around 90%, trailed by an electrifying 1100% spike,\u201d Egrag remarked.<\/p>\n

For the second time in the history of the XRP price, the signal flashed at the end of December 2020. This time, the XRP rose by 100% in the first candle, succeeded by an 84% surge in the second 2-week candle which marked a collective 200% upswing.<\/p>\n

According to the crypto analyst, there\u2019s a high probability that these scenarios will repeat themselves. \u201cDrawing parallels from past bullish runs, my opinion syncs with historical data,\u201d Egrag remarked.<\/p>\n

Notably, the chart of Egrag also features an ascending trend line, a bullish indicator, which XRP has tested twice, as shown by the two green circles in mid-2022 and early 2023. These taps on the trend line are critical, as they suggest that each touch is a test of support where the price finds enough buyers to begin a new upward movement.<\/p>\n

The analyst speculates that XRP could dip slightly more to tap the ascending trend line a third time, which could be a precursor to a significant price rally. This potential third tap on the trend line is viewed as a buying opportunity that could precede a considerable price surge.<\/p>\n

Following this third retest of the trend line, Egrag expects two possible scenarios based on the bullish crossover of the 21 EMA and 55 MA. In scenario A, the crypto analyst envisions a dramatic rise in the XRP price<\/a>, projecting a target of $7.00, which would represent a staggering increase of 1,139.35% from the current price.<\/p>\n

Scenario B suggests a more conservative target of $1.80, which would still be an impressive gain of 218.82%. The \u201cNo Return Zone,\u201d marked in red at the $1.80 level, is set just above scenario B\u2019s target. It indicates a critical threshold that could either act as a resistance zone or confirm a strong bullish momentum if the price sustains above it.<\/p>\n

Broader Market Forces<\/h2>\n

The crypto analyst is also aware that the Bitcoin price traditionally plays a major role for altcoins such as XRP. He therefore notes on the current market conditions, \u201ceyes fixed on BTC as the majority anticipates a $48K-$50K peak, potentially followed by a pullback, igniting a widespread alt season. Yet, what\u2019s intriguing? A scenario where BTC skyrockets to ATH, retraces, and unleashes a truly wild alt season.\u201d<\/p>\n

The analyst\u2019s perspective leans towards an initial spike to between $7 to $10, followed by a significant retracement, and then an even more substantial rise<\/a> to the levels of $20 to $30. On being queried about the extent of the expected retracement from the $7-$10 range, Egrag Crypto answered an \u201caggressive $1.3-1.5\u201d drawdown.<\/p>\n

At press time, XRP traded at $0.61095.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-33743","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=33743"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33743\/revisions"}],"predecessor-version":[{"id":33760,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33743\/revisions\/33760"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33743"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}