In spite of the The recent decline in the XRP priceCrypto analyst Egra Crypto has given a reason to believe that this presents the perfect opportunity to accumulate more of the token rather than lose belief in its potential.
XRP heading to $22 soon?
Egrag recently hinted in an X (formerly Twitter) after that XRP could rise to $22 soon enough. The accompanying chart he shared shows that the crypto token will reach this price level if it follows the green route, which the analyst has continuously hinted at. In a X message made last year, Eggrag suggested that XRP could reach $22 in July this year if the green route was followed.
Meanwhile, in his more recent analysis he also a Symmetrical triangle that was currently forming. According to Egrag, XRP price drops are buying opportunities as long as the crypto token maintains its symmetrical triangle formation. Interestingly, crypto analyst Jaydee also mentioned this recently bullish pattern.
However, in his analysis, Jaydee declared that the Symmetrical Triangle had already formed on the monthly chart. This chart pattern is significant because it is said to have been the trigger for XRP’s parabolic move in 2017, when it posted gains of over 30,000%.
After the formation of this pattern, the analyst expects the MACD (Moving average convergence divergence) to cross zero in the coming months, followed by the parabolic move. The accompanying chart that Jaydee shared suggested that XRP could rise well above $12 if this move to the upside occurs.
Token price establishes support at $0.5 | Source: XRPUSD on Tradingview.com
The Wave 2 analysis
In his most recent X message, Egrag analyzed the current price movement of XRP. The analyst believes that XRP’s Wave 2 correction will follow a regular pattern and expects the corrective wave C won’t dip below $0.41. However, if that doesn’t happen, he noted that there is a possibility that Wave C falling to $0.35 to $0.40.
He went on to state that from a macro perspective, it is very important that XRP remains above the $0.28 level. If XRP falls there, it will undoubtedly create a very bearish outlook for the crypto token. Whatever happens, Egrag remains bullish on XRP as he made his call XRP holders to prepare for the ‘great mega-boom that is coming soon’.
According to him, there could be a life-changing opportunity for the XRP community between now and 2025. Considering that the analyst had already predicted XRP will reach $5 within 90 daysthis life-changing opportunity could present itself sometime in April.
At the time of writing, XRP is trading around $0.50, up over 2% in the past 24 hours. facts from CoinMarketCap.
Featured image from CoinMarketCap, chart from Tradingview.com
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