{"id":570503,"date":"2024-01-20T14:00:31","date_gmt":"2024-01-20T14:00:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570503"},"modified":"2024-06-11T08:30:26","modified_gmt":"2024-06-11T08:30:26","slug":"xrp-price-breakout-to-5-analyst-reveals-key-levels-of-importance","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-price-breakout-to-5-analyst-reveals-key-levels-of-importance\/","title":{"rendered":"XRP Price Breakout To $5: Analyst Reveals Key Levels Of Importance"},"content":{"rendered":"

Crypto analyst Egrag Crypto<\/span><\/a> has revealed key <\/span>price levels<\/span><\/a> to watch out for in one of his latest analyses of XRP. The analyst hinted that these prices could be crucial especially following his prediction that the crypto token will <\/span>rise to $5 in 90 days<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours \u2013 Here\u2019s The Scoop<\/a><\/div>\n

Targets That Confirm An XRP Bull Run\u00a0<\/b><\/h2>\n

In a <\/span>post<\/span><\/a> on his X (formerly Twitter) platform, Egrag highlighted $0.60, $0.75, $0.95, and $1.3 as price levels to keep an eye out for as they will <\/span>validate a bullish trend<\/span><\/a>. He says, \u201cA weekly close above any of these levels signifies robust support and a continued upward trajectory.\u201d\u00a0<\/span><\/p>\n

\n

#XRP<\/a> Blue Channel vs. Red Channel Unveiled:<\/p>\n

To decipher the intricate details within the chart below, let’s break it down into three crucial sections:<\/p>\n

1) Blue Channel in comparison to Red Channel:
\nShould the Blue Channel align with the Red Channel, a potential flash crash to\u2026 pic.twitter.com\/2w5hmoH872<\/a><\/p>\n

\u2014 EGRAG CRYPTO (@egragcrypto) January 19, 2024<\/a><\/p><\/blockquote>\n

Further elaborating on their importance, he noted that these targets \u201coffer crucial insights into significant price behavior.\u201d Considering that <\/span>XRP<\/span><\/a> has continued to trade below those levels, the token hitting any of those targets will easily suggest that the sentiment towards the altcoin has changed.\u00a0<\/span><\/p>\n

XRPUSD currently trading at $0.54896 on the daily chart: TradingView.com<\/a><\/pre>\n
Meanwhile, the crypto analyst also raised the possibility of XRP experiencing a 50% drop in pursuit of a move similar to the one in 2017, <\/span>when XRP surged by 61,000%<\/span><\/a>. Interestingly, Egarag believes that XRP replicating such a similar move will see the crypto token rise to <\/span>as high as $27<\/span><\/a> in the next bull run.\u00a0<\/span><\/p>\n
How XRP Could Crash To $0.28<\/b><\/h2>\n
Also offering a bearish narrative for XRP, Egrag stated that XRP could <\/span>witness a flash crash<\/span><\/a> to $0.28 should the blue channel (visible in the chart he shared) align with the red channel. If that were to happen, a subsequent rise to $0.41 from $0.28 could unfold, the analyst claims.<\/span><\/p>\n
\"\"<\/p>\n
Egrag believes that these channels add more intrigue to <\/span>XRP\u2019s price action<\/span><\/a>, considering that the crypto token has been navigating the blue channel for nearly 600 days since its breakout in May 2022. On the other hand, XRP is also said to have spent 580 days in the red channel before making a significant surge.\u00a0\u00a0<\/span><\/p>\n
Related Reading: Will X Unleash The Doge? Platform Users Eager To Embrace The Meme Coin<\/a><\/div>\n
As part of this bearish projection, the crypto analyst raised the prospect of a <\/span>further BTC decline<\/span><\/a>, dragging XRP alongside. Egrag claims that this could serve as the \u201cultimate shakeout, especially if market makers shake out the remaining weak hands.\u201d<\/span><\/p>\n
These market makers are the same persons that Egrag says \u201cmay engineer an independent surge,\u201d which would propel XRP\u2019s price to $5. If that doesn\u2019t happen and the market ends up experiencing the worst-case scenario, the analyst urged everyone to <\/span>seize the opportunity<\/span><\/a> to obtain XRP at a \u201cmore favorable price.\u201d<\/span><\/p>\n
At the time of writing, XRP is trading at $0.54, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Egrag Crypto has revealed key price levels to watch out for in one of his latest analyses of XRP. The analyst hinted that these prices could be crucial especially following his prediction that the crypto token will rise to $5 in 90 days.\u00a0 Related Reading: Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours \u2013 Here\u2019s The Scoop Targets That Confirm An XRP Bull Run\u00a0 In a post on his X (formerly Twitter) platform, Egrag highlighted $0.60, $0.75, $0.95, and $1.3 as price levels to keep an eye out for as they will validate a bullish trend. He says, \u201cA weekly close above any of these levels signifies robust support and a continued upward trajectory.\u201d\u00a0 #XRP Blue Channel vs. Red Channel Unveiled: To decipher the intricate details within the chart below, let’s break it down into three crucial sections: 1) Blue Channel in comparison to Red Channel: Should the Blue Channel align with the Red Channel, a potential flash crash to\u2026 pic.twitter.com\/2w5hmoH872 \u2014 EGRAG CRYPTO (@egragcrypto) January 19, 2024 Further elaborating on their importance, he noted that these targets \u201coffer crucial insights into significant price behavior.\u201d Considering that XRP has continued to trade below those levels, the token hitting any of those targets will easily suggest that the sentiment towards the altcoin has changed.\u00a0 XRPUSD currently trading at $0.54896 on the daily chart: TradingView.com Meanwhile, the crypto analyst also raised the possibility of XRP experiencing a 50% drop in pursuit of a move similar to the one in 2017, when XRP surged by 61,000%. Interestingly, Egarag believes that XRP replicating such a similar move will see the crypto token rise to as high as $27 in the next bull run.\u00a0 How XRP Could Crash To $0.28 Also offering a bearish narrative for XRP, Egrag stated that XRP could witness a flash crash to $0.28 should the blue channel (visible in the chart he shared) align with the red channel. If that were to happen, a subsequent rise to $0.41 from $0.28 could unfold, the analyst claims. Egrag believes that these channels add more intrigue to XRP\u2019s price action, considering that the crypto token has been navigating the blue channel for nearly 600 days since its breakout in May 2022. On the other hand, XRP is also said to have spent 580 days in the red channel before making a significant surge.\u00a0\u00a0 Related Reading: Will X Unleash The Doge? Platform Users Eager To Embrace The Meme Coin As part of this bearish projection, the crypto analyst raised the prospect of a further BTC decline, dragging XRP alongside. Egrag claims that this could serve as the \u201cultimate shakeout, especially if market makers shake out the remaining weak hands.\u201d These market makers are the same persons that Egrag says \u201cmay engineer an independent surge,\u201d which would propel XRP\u2019s price to $5. If that doesn\u2019t happen and the market ends up experiencing the worst-case scenario, the analyst urged everyone to seize the opportunity to obtain XRP at a \u201cmore favorable price.\u201d At the time of writing, XRP is trading at $0.54, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Shutterstock<\/p>\n","protected":false},"author":594,"featured_media":570510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,89561],"tags":[6664,89746,3680,4531,13172,10972],"class_list":["post-570503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-xrp-news","tag-crypto","tag-egrag-crypto","tag-ripple","tag-xrp","tag-xrp-price","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Breakout To $5: Analyst Reveals Key Levels Of Importance<\/title>\n<meta name=\"description\" content=\"Crypto analyst Egrag Crypto has revealed key price levels to watch out for in one of his latest analyses of XRP. 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