Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Egrag Crypto, a crypto analyst on X, has released a technical analysis that suggests a potential surge in the price of XRP to as high as $220, drawing a vivid parallel to the astronomical event known as a Gamma-Ray Burst (GRB). In financial charting, the GRB analogy reflects a surge in price with a significant magnitude and rapidity, akin to the intense energy release of a cosmic GRB. Egrag utilizes a Fibonacci Channel (Fib Channel) for his forecast, a technical analysis tool that traders employ to identify potential levels of support and resistance based on the Fibonacci sequence. A Fib Channel is constructed by drawing a trendline between two extreme points, typically a high and a low, and then dividing the vertical distance by the key Fibonacci ratios. These levels are parallel lines that run across the chart, which can act as markers for price targets or reversals. Cosmic XRP Price Targets The 1-month chart of XRP\/USD shared by Egrag on X outlines these Fib levels. Egrag notes, \u201cReflecting on XRP’s potential to mirror its 2017 trajectory, analyzing current price positions reveals crucial figures within The Fib Channel.\u201d Accordingly, the significant future price points are at $2.2 (0.236 Fib), $5.8 (0.382 Fib), $11 (0.5 Fib), $33 (0.702 Fib), and finally, the zenith at $220 (1.0 Fib). Furthermore, the analysis identifies the two \u201cBull Market Lines\u201d on the chart, which have been instrumental in past XRP price movements. Egrag’s analysis anticipates a third encounter with these lines, a possible indicator of a new uptrend. Related Reading: Crypto Analyst Identifies XRP Bear Flag To Trigger A Massive Crash To $0.07 The first encounter was when the XRP price crossed the first “bull market line” in March 2017. The XRP price rose by a whopping 60,000%, from $0.005 to $3.30, the current all-time high. This now also forms the starting point for the second “bull market line”, with its second connection point derived from its April 2021 high at $1.97. According to Egrag, the XRP price currently needs to overcome the $1.20 mark in order to cross the “Bull Market Line – 2”. An impulse for this could be a crossover of the Simple Moving Average (SMA) and 24 SMA in the 1-month chart. Related Reading: XRP ETF Is Trending On X, Here\u2019s Why Egrag notes, “Once the bullish cross happens, almost 1 month later, the XRP bull run starts,” aligning with historical price actions marked on the chart as ‘Cross 1’ and ‘Cross 2’. The analyst suggests that a similar crossover is imminent, forecasting a shift from a bearish to a bullish market. Notably, the crossover happened at the end of December 2023 and the beginning of January 2024. Egrag’s commentary on the social platform X adds a rallying call to the XRP community: “XRP Army: STAY STEADY And Get Ready, the shift from Red to Blue, and eventually to Green, is imminent. It will be a GRB Event.” The Momentum Still Has To Turn Bullish In conclusion, Egrag’s analysis presents a bullish case for the altcoin, with precise price targets and technical indicators serving as a guide for potential future movements. However, as with all market analyses, investors are advised to approach with caution and conduct their own research. The XRP price has not fared well in recent months. Despite Ripple’s big win in the XRP lawsuit, the price has lost all its gains. At press time, XRP traded below the 200-day exponential moving average (EMA), which is considered to be the “bull line” in technical analysis. Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":568732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[6664,89746,4531,13172,16289,10972],"class_list":["post-568719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-crypto","tag-egrag-crypto","tag-xrp","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd"],"acf":[],"yoast_head":"\n
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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Could Hit $220 With Gamma-Ray Burst: Crypto Analyst","url":"http:\/\/uniquehot.com\/news\/ripple\/xrp-price-220-gamma-ray-burst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/xrp-price-220-gamma-ray-burst\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/iStock-1365598845.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/iStock-1365598845.jpg?fit=2131%2C1406"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","egrag crypto","xrp","xrp price","xrp price prediction","xrpusd"],"dateCreated":"2024-01-09T14:00:51Z","datePublished":"2024-01-09T14:00:51Z","dateModified":"2024-06-11T14:44:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Could Hit $220 With Gamma-Ray Burst: Crypto Analyst\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-price-220-gamma-ray-burst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-price-220-gamma-ray-burst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/iStock-1365598845.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/iStock-1365598845.jpg?fit=2131%2C1406\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"egrag crypto\",\"xrp\",\"xrp price\",\"xrp price prediction\",\"xrpusd\"],\"dateCreated\":\"2024-01-09T14:00:51Z\",\"datePublished\":\"2024-01-09T14:00:51Z\",\"dateModified\":\"2024-06-11T14:44:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/iStock-1365598845.jpg?fit=2131%2C1406","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=568719"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/568732"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=568719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=568719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=568719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"XRP](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/GDYpcppW8AA0R4p.jpg?resize=1281%2C545\")
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