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HomeCrypto NewsMarketTop Trader Claims XRP Below $1 is a Life-changing Opportunity

Top Trader Claims XRP Below $1 is a Life-changing Opportunity


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XRP has continued to trade below $1 since December 2021.

XRP’s recent campaign to reclaim the $1 price point has faced stern opposition from the bears since the asset broke above $0.58 on March 29. However, a prominent crypto trader has asserted that XRP’s position below $1 remains a life-changing opportunity for investors.

Egrag made this assertion today while analyzing XRP’s price movements amid the bearishness observed within the broader market.

The analyst leveraged signals from Luxalgo, a leading trading platform, in his latest analysis. Egrag pointed out a buy signal presented by Luxalgo for XRP at its current value. However, he noted that if the signal is “buy” and not “strong buy,” then the possibility of falling from the current price exists.

Particularly, Egrag asserted that XRP could drop to retest the Fibonacci point at 0.382 which is stationed at a price of $0.40. He further noted that the Stochastic Relative Strength Index (Stoch-RSI) is flashing bearish signals, which could mean that XRP could trade within a range for a while.

According to Egrag, this scenario is not certain and such cases would need the Relative Strength Index (RSI) indicator for a clearer picture. Taking signals from the RSI, Egrag asserted that XRP could potentially gain momentum to see it capture the $0.60 price point as it breaks above the “Final Wake Up Line.”

However, the veteran analyst acknowledged that the asset could drop back to the Final Wake Up Line after surging above it. Notably, dropping back to the line after surging above it would confirm that the line is the new support zone. Egrag believes this would be the best-case scenario.

XRP Seeks to Reclaim $0.50

Crypto trader Nuke Capital shares this same sentiment as Egrag. He made a call to action for investors to overcome their fear of purchasing XRP. According to him, this fear would only support XRP’s rise back up. He noted that exit dumps are similar to exit pumps but in reverse, as they could bolster the asset’s next uptrend.

XRP is trading for $0.4995, seeking to reclaim $0.50 after being displaced by the bears today. The asset plummeted to Egrag’s “strong support box” between $0.48 and $0.46. However, the bulls aged a fierce comeback that saw XRP rise above the box. The asset is currently down 5.88% today, shedding off some of the gains picked up in previous days.


Egrag noted that a drop to the bottom of the box ($0.46) would not be surprising. However, he would be concerned if the asset started closing on multiple occasions below the support box. It is important to note that these are mere analyses of the asset’s price actions, and should not serve as investment advice.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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