Key notes
- Crypto Egrag Crypto analyst gave a modest $ 6 and an optimistic price forecast of $ 27 for XRP.
- The higher range amounts to an increase in prices of 1,200% compared to the current price of around $ 2.23.
- The XRP price did not react to the events of the Ripple ecosystem, attenuating short -term expectations.
The wider industry of cryptocurrency is enthusiastic about XRP prices
Xrp
$ 2.23
24h volatility:
3.9%
COURTIC CAPESSION:
$ 131.41 B
Flight. 24 hours:
$ 2.22 B
Next displacement. Egrag Crypto, a popular crypto analyst, weighed on the issue, referring to a gain in modest but intriguing potential for the cryptographic assets associated with undulation. However, it was not without twist that could challenge conventional expectations of the market.
Is the price action of $ 27 possible for XRP?
On June 12, Egrag went to X to share a detailed technical analysis of future perspectives and the performance of XRP prices. He is convinced that the medal has the potential to participate in a bullish season and to strike a new summit. Its technical analysis depends on the crossing of the 21 -day exponential mobile average (EMA) and the 33 -day simple mobile average (SMA).
The analyst believes that this approach contains great prospects for identifying key trend changes for XRP. Unfortunately, it has long been ignored, hence its underuse on the cryptography market. Based on historical data, a lowering crossing is generally observed when the 21 EMA fall below 33 SMA, and this generally precedes a significant correction.
At the same time, Egrag Crypto identified a unique anomaly where the 21 EMA avoided a lower crossover with the 33 SMA. This finally gave rise to a rally of 1,200% of the XRP price. If this same “anomaly” is repeated, he said that XRP could go up to $ 27. In particular, the price of XRP is currently $ 2.23 after losing 2.69% of its price gain within 24 hours.
If XRP does not guarantee a rally of 1,200% but rather a rally of 600%, the analyst said that the price of the part will still reach $ 13. If it only captures a quarter (300%) of the expected overvoltage, the XRP price will be negotiated at $ 6.70, modest growth compared to its current market value.
However, XRP failed to react to the events of the Ripple ecosystem in recent days. Short -term expectations are in damping
The torsion of the upward projection of Egrag is the moment and the sustainability of the potential Rally of XRP prices. Although the analyst thinks that the epic, rapid and short -lived movement will have crypto enthusiasts thinking that XRP “will never come back”, he says that historical data say the opposite.
Consequently, Egrag asked investors to be cautious and avoid the sale of panic or optimism.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but must not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
