Renowned crypto analysts Egrag Crypto and Dark Defender have ignited a wave of optimism in the market with their bullish predictions for the Ripple-backed token. While XRP’s price dipped slightly recently, these analysts see a significant breakout on the horizon.
Egrag Crypto, dissecting the charts, identified a bullish pattern known as the “White Triangle” aligning with Fibonacci levels. According to the analyst, this pattern hints towards a potential price surge between $1.2 and $1.5 in the coming weeks. A critical breakout point is identified around $0.70-$0.75, suggesting XRP is poised for a major move upwards.
Holding Strong: The Atlas Line Support
Egrag Crypto further highlights XRP’s resilience on the “Atlas Line,” with a strong support level at $0.5000 and resistance at $0.5777. While a short-term retest of the breakout point is anticipated, the analyst predicts a “Mega Run” for XRP following this consolidation phase.
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Grand Wave 3: Dark Defender Chimes In
Adding to the bullish chorus, Dark Defender, another prominent analyst, suggests XRP is currently riding its “Grand Wave 3.” This technical analysis, based on Heikin Ashi Candles and the Fisher Indicator, indicates a strong potential for growth. However, Dark Defender warns of a challenging zone between $0.6044 and $0.6649. A decisive weekly candle closing above $0.6649 could trigger significant gains for XRP.
A Word of Caution
It’s important to acknowledge that previous predictions, like the $1 target set for April, haven’t materialized yet. The cryptocurrency market remains volatile, and unforeseen events can impact XRP’s price trajectory.
Overall, the outlook for XRP in the next seven days appears bullish, with the potential for a significant breakout. However, closely monitoring price movements and key resistance/support levels is crucial for informed trading decisions.
