Expert Projects an XRP Rally to $1.4, $3.7, or $200 Depending on Its Trajectory

Citing historical data, skilled chartist Egrag projects an XRP price rally to $1.4, $3.7, or $200, depending on the trajectory the asset mirrors.

Renowned chartist Egrag, known for his captivating technical analysis, has made an exciting projection for XRP. According to the analysis, XRP has the potential to surge to $1.4, $3.7, or $200, depending on the trajectory it mirrors from historical patterns.

Egrag noted that the interaction between the 21 Exponential Moving Average (EMA) and the 50 Moving Average (MA) on the weekly timeframe had unveiled a clear signal for a bullish momentum and a potentially astonishing pump in XRP’s price.

#XRP 21 EMA & 50 MA (2.3X, 500X or 7.7X)!!! ??

The Weekly time frame interaction between the 21 (exponential moving average) and 50 (Moving Average) has delivered a clear signal for a #Bullish momentum and an astounding PUMP. ??

? Cross 'A': 230%
? Cross 'B': 50,000%
?… pic.twitter.com/tRbU7Q6bhX

— EGRAG CRYPTO (@egragcrypto) July 19, 2023

The Moving Averages

For context, the 21 EMA and 50 MA are essential technical indicators in chart analysis. The 21 EMA tracks the average price of an asset over the last 21 periods, with more weight given to recent data. 

However, the 50 MA calculates the average price over the last 50 periods. When these moving averages cross each other, it often signals a potential shift in momentum.

Historically, each time the moving averages crossed in a bullish pattern, it resulted in a price rally. Depending on the nature of the cross, the rally could be a minor one or a massive pump. 

As these moving averages look close to interacting in recent times, Egrag has called attention to three potential trajectories XRP could follow depending on the nature of the cross. Each of these trajectories mirrors a previous rally.

The key highlights of Egrag’s analysis are the three crosses, named ‘A,’ ‘B,’ and ‘C,’ each indicating different potential outcomes for XRP’s price trajectory. 

Cross A

Cross ‘A’ signifies a price surge of around 230%. Should XRP imitate this pattern, it could reach a price range of $1.3 to $1.4. Such a move would place the cryptocurrency in a critical zone, and flipping this zone would make reaching its all-time high (ATH) more achievable. 

This cross occurred in 2015 and resulted in an impressive price rally. However, investors should be prepared for the possibility of an intense retracement in price.

Cross B

Cross ‘B’ is the most intriguing of the three, suggesting a staggering 50,000% price increase that could catapult XRP’s value to approximately $200. This pattern occurred in late 2017, leading to XRP’s all-time high value in 2018.

Egrag noted that XRP would need a significant catalyst to achieve this astronomical pump, such as major adoption news like Bank of America using XRP or BlackRock launching an XRP exchange-traded fund.

Egrag views this possibility as high and has a bullish stance on XRP’s trajectory, anticipating a journey to the mythical “Valhalla city of gains.”

Cross C

Cross ‘C’ occurred in mid-2020 and points to a potential 777% increase, projecting XRP’s price to land around $3.7. This price level would bring XRP close to its previous ATH and place it within a critical zone. 

According to Egrag, flipping this zone would open the doors to what he calls “Valhalla,” suggesting that even more outstanding gains could be in store. Meanwhile, XRP has continued to face resistance in the short term, currently trading for $0.7744.

As with any financial analysis, it is essential to exercise caution and consider multiple factors that may influence the price of XRP. Market sentiment, regulatory developments, and broader cryptocurrency trends can all play a role in determining XRP’s trajectory.