- Cryptocurrency expert EGRAG CRYPTO predicts a significant drop and surge for Ripple (XRP).
- XRP’s value decreased by 0.33% and its 24-hour trading volume fell by 11%.
- XRP currently holds the 5th position in the cryptocurrency market.
Earlier today, a renowned cryptocurrency expert expressed on Twitter (X) that Ripple
On two previous occasions, XRP initially managed to close above the Gaussian Channel while in a bearish phase. However, as the downward trend commenced, the channel transitioned into a bullish phase, causing the price to retreat to the lower limit of the Gaussian Channel.
Recently, XRP mirrored past trends by surpassing the Gaussian Channel during its red phase. However, as it descended, the channel transitioned to a green phase, and currently, XRP is sustaining its stance above the Gaussian Channel’s median.
EGRAG CRYPTO asserts that previous trends have indicated a highly positive outlook for the remittance token. Their commentary suggested that if historical patterns recur, XRP could experience a significant surge in value in the forthcoming period.
The term “Gaussian channel” isn’t typically used in the cryptocurrency industry. This concept originates from the realm of information theory and communication systems. A Gaussian channel is a specific kind of communication channel in which the noise or interference adheres to a Gaussian, or normal, distribution.
About XRP’s performance over the last 24 hours, data from CoinMarketCap reveals a slight decrease in the altcoin’s value by 0.33%. Consequently, XRP was trading at a rate of $0.5012, marginally above its daily low of $0.5001.
In line with its declining price, XRP’s 24-hour trading volume experienced a decrease of over 11% in the last day, leaving it at approximately $727,483,118 at the time of reporting. Furthermore, XRP’s weekly performance continued its downward trend, falling to -5.64%.
Currently, XRP holds the 5th position in the cryptocurrency market with a market capitalization of $26,534,752,107. It remains to be seen whether the recent price decline of XRP is the anticipated “mega dump” preceding the “mega pump” forecasted by EGRAG CRYPTO.
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.
