Popular crypto analyst EGRAG CRYPTO, identified for his very bullish stance on XRP, has predicted that the <\/span>XRP price is headed for $27<\/span><\/a> as a sample from 2017 emerges once more. The analyst made this prediction identified in a latest submit on social media to mirror that XRP is now mimicking a historic cross between the 20 and 50 Simple Moving Averages.<\/span><\/p>\n Interestingly, with XRP at present buying and selling at $0.6079 amidst a lull market acquire, EGRAG\u2019s prediction represents a surge of over 4,300% from the present worth ranges.\u00a0<\/span><\/p>\n An in depth look into EGRAG\u2019s technical evaluation factors to a cross between the 20 SMA and 50 SMA, with the previous crossing above the latter. Interestingly, this cross dates 50 bars on the weekly candlestick timeframe, round 350 days in the past. <\/span><\/p>\n Now, he identified that this state of affairs has solely occurred twice all through XRP\u2019s historical past with two completely different outcomes, and XRP might now go on the trail of both consequence or it might play out one thing new within the coming days.<\/span><\/p>\n Related Reading: Shiba Inu Sees A Shift: Short Term Holders Take Possession Of 23 Trillion SHIB<\/a><\/p>\n #XRP<\/a> \ud83d\ude80 Is This Similar to 2017, or Are We Witnessing Something New?<\/p>\n The historic knowledge reveals two crosses between the Yellow Line (20 SMA) and Blue Line (50 SMA).<\/p>\n A) If this resembles Cycle \u2018A\u2019, then we might anticipate a fast and aggressive worth surge, akin to a rocket\u2026 pic.twitter.com\/o8PVCqJP14<\/a><\/p>\n \u2014 EGRAG CRYPTO (@egragcrypto) March 19, 2024<\/a><\/p>\n<\/blockquote>\n American publicly traded firm and crypto change, Coinbase has revealed plans to introduce Dogecoin (DOGE) in its futures contract choices.<\/p>\n The first time such a cross occurred between the 2 shifting averages was in 2017. However, the value of XRP continued to consolidate for 49 weekly bars earlier than occurring a fast and aggressive worth surge to achieve its present all-time excessive of $3.84. EGRAG referred to as this \u2018Cycle A\u2019, likening the value motion to a \u201crocket ship-style pump.\u201d<\/span><\/p>\n The second time such a cross occurred was in 2021. In this cycle, which he referred to as \u2018Cycle B,\u2019 XRP went on a smaller consolidation for 32 bars earlier than occurring a lesser worth surge than that of Cycle B. EGRAG believes that the present cycle, which he referred to as \u201cCycle C,\u201d mirrors that of Cycle A greater than Cycle B, as there are not any evident similarities within the patterns between the 20 SMA and 50 SMA.\u00a0<\/span><\/p>\n EGRAG, in his steady spirit of ultra-bullishness, forecasted that the present cycle would possibly escape by an element of 10 instances larger than the one which was seen in Cycle A, which might point out a goal of $27.\u00a0<\/span><\/p>\n EGRAG is without doubt one of the <\/span>few crypto analysts<\/span><\/a> who’re <\/span>still optimistic about<\/span><\/a> XRP\u2019s future. In a <\/span>former analysis made<\/span><\/a> in December 2023, he famous <\/span>various scenarios<\/span><\/a> of how XRP might surge previous $1 within the first quarter of 2024 amidst a bull run ushered in by Spot Bitcoin ETFs.<\/span><\/p>\n Although the introduction of those ETFs undoubtedly attracted capital to the cryptocurrency area and <\/span>propelled Bitcoin<\/span><\/a> to but a brand new report excessive, XRP\u2019s worth hasn\u2019t elevated all that a lot.<\/span><\/p>\n XRP crossed over $0.73 on March 11 for the primary time since November 2023 however has been on a downfall since then with the formation of decrease highs and decrease lows. However, issues might <\/span>change into a strong bullish momentum<\/span><\/a> very quickly if XRP <\/span>bulls continue to hold<\/span><\/a> above the $0.6 worth help.\u00a0<\/span><\/p>\n Featured picture from CoinMarketCap, chart from Tradingview.com<\/p>\n Disclaimer: The article is supplied for instructional functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your personal analysis earlier than making any funding choices. Use info supplied on this web site fully at your personal threat.<\/p>\n<\/p><\/div>\nAnalyst Points To Similarities Between 2017 And Current Market Conditions<\/h2>\n
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What\u2019s Next For XRP Price?<\/h2>\n
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Token worth jumps above $0.61 | Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n