XRP course could explode to $ 9.5 to $ 27, says crypto expert
The trading couple XRP/BTC could be at a turning point. This closes crypto analyst Egrag Crypto based on a new technical analysis. According to him, XRP will do much better in the next six months than Bitcoin.
Symmetrical triangle indicates critical phase
Share in a current update EGRAG CRYPTO A graphic in which important technical indicators come together: sliding average, fibonacci levels and a symmetrical triangular formation. According to him, these patterns indicate a consolidation period that could result in a large price movement.
Egrag Crypto has previously predicted that this summer could be favorable for cryptocurrencies, especially for XRP and other old coins. His latest analysis supports this view.
Critical support and resistance level
According to Egrag Crypto, it is important to maintain the positive scenario that XRP About 0.5 Fibonacci retracement level remains around 0.00001552 BTC. Closing under the 21-week moving average (EMA) would mean weakening the pattern.
On the other hand, a breakthrough over the 0.786 Fibonacci level (0.000029 BTC) would be a first indication that the outbreak actually begins. The real confirmation is 0,00044 BTC when closing above the 1.0 Fibonacci level.
Course goals and wider market analysis
If the upheaval takes place, the target zones are between the 1.414 and 1.618 Fibonacci extension levels, according to a course from 0.00009500 BTC to 0,00014000 BTC.
Depending on the price of Bitcoin in dollars, this could correspond to an XRP value between $ 9.50 and $ 27.00.
EGRAG CRYPTO indicates that when it is outburst, he will continue to observe both the XRP/USD and the BTC/USD trading couple in order to assess whether XRP becomes stronger or Bitcoin weaker. This analysis could provide information about a possible final stage of the current Bitcoin cycle.
