- EGRAG CRYPTO predicts XRP’s value could surge from $2.8 to $4.6.
- XRP’s price is in an accumulation zone until it surpasses $0.5160.
- XRP’s value may plummet to $0.4758 within the next 48 hours.
Renowned crypto trader and analyst EGRAG CRYPTO has made a bold prediction regarding Ripple’s (XRP) price. In a recent tweet, EGRAG CRYPTO stated that the remittance token’s value could skyrocket from $2.8 to $4.6 in the coming months. The expert further explained that XRP’s price is in an accumulation zone and will remain there until it surpasses the $0.5160 mark. With EGRAG CRYPTO’s impressive track record, this prediction is worth watching for investors and traders alike.
According to EGRAG CRYPTO, XRP’s price is poised to surge from $2.8 to $4.6 before experiencing a subsequent correction to $1. However, this is just the beginning of a significant and arduous journey for the altcoin. The trader predicts that XRP’s value could skyrocket to an impressive $12 or even $50 shortly. These projections highlight the potential for substantial gains but also underscore the volatility and unpredictability of the cryptocurrency market.
EGRAG CRYPTO advised his followers to exercise patience and predicted that XRP’s value would persist in consolidating until the beginning of next year. He emphasized that the price of the remittance token would remain stable until the first quarter of 2024.
According to the latest update from CoinMarketCap, XRP is currently trading at $0.5105. Unfortunately, the crypto market as a whole experienced a downward trend, causing XRP to suffer a 24-hour loss of 3.53%. As a result, XRP’s weekly price performance has dipped further into negative territory, standing at -3.92%.
XRP’s value is precariously perched on the 20-day EMA line, having experienced a sharp decline from its initial price of $0.5251 in yesterday’s trading session. If it fails to maintain its position above the 20-day EMA line during today’s trading session, it may plummet to $0.4758 within the next 48 hours.
To validate the bearish outlook, a crucial indicator to watch out for is the 9-day EMA line crossing below the 20-day EMA line within the next 24 hours. This occurrence would signify that XRP’s price has entered a short-term bearish phase, with a high likelihood of a further decline in the coming week. As such, investors should remain vigilant and consider adjusting their positions accordingly.
Alternatively, if XRP closes today’s trading session above the 20-day EMA line, it effectively debunks the bearish outlook. In such a scenario, the altcoin’s value could surge and aim to transform the $0.5408 resistance level into a solid support base in the coming days.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
