XRP Price Sees Notable Increase, Analyst Predicts “Mega Move”
XRP’s price has risen above $0.57 in the last 24 hours, indicating a significant increase of over 10% since February 9th when it was trading below $0.52. However, the bulls were unable to sustain the pressure, resulting in a drop to its current trading price of around $0.56.
Analyst Outlines Potential “Mega Move” for XRP
A popular analyst on Twitter, EGRAG CRYPTO, has shared an outline suggesting that XRP may be on the brink of a “mega move” that presents a life-changing opportunity. The analyst explains that XRP’s 2-week candle is caught between the 21 EMA and 55 MA, with a downside risk of 0.45c. Closing above 0.60c is crucial as it would mean surpassing the local resistance level and closing above the 21 EMA on the 2-week timeframe.
If these conditions are met, it could complete a “W” formation and an ascending triangle formation, potentially leading to a price increase of up to 500% from the current level.
Utility Could Drive XRP’s Price Higher
EGRAG CRYPTO suggests that while a 7000% increase from $2 may seem unimaginable to most people, once utility kicks in, it could be just the beginning of a long-term trend.
Other Bullish Predictions for XRP
EGRAG is not the only analyst bullish on XRP. There are several other interesting price predictions for XRP this year, which you can find in the video below:
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