Renowned analyst and chartist Egrag has recently provided an intriguing update on the projected timeframe for a potential breakout of XRP, the digital asset associated with Ripple. In his latest analysis, Egrag suggests that XRP may experience a significant rally between July and December, with a focus on the narrow window of September to November.
#XRP Bent Fork ( 24th of July or 25th Of Sep):
For a detailed explanation, please check my previous post on June 14th, 2023 [link: https://t.co/PLSEEojrGe].
📊 #XRP's micro behavior within the Bent Fork is revealing compelling data indicating a potential break-out on either the… pic.twitter.com/4tWD8dSiuW
— EGRAG CRYPTO (@egragcrypto) June 29, 2023
Analyst Egrag Predicts based on his former June prediction.
Egrag’s analysis builds upon his previous post on June 2, where he introduced the concept of the XRP Bent Fork and forecasted a possible rally to $15. The analyst’s meticulous examination of XRP’s micro behaviour within the Bent Fork has revealed compelling data indicating an imminent breakout. However, Egrag acknowledges the challenges associated with accurately projecting specific timelines and emphasizes that uncertainties still exist.
Read Also: President Biden Vows to Close Crypto Loopholes, Sending Ripples Through the Market
The XRP community eagerly awaits this potential breakout, as it could catalyze a significant price rally in the asset. If Egrag’s projections materialize, investors might witness an XRP surge to $15. Presently, this would require a remarkable 3,105% increase in XRP’s price.
#XRP: The Bent Fork (15$ & Historical Support)
Introducing the intriguing journey of #XRP, symbolized by "The Bent Fork," a roadmap with four distinct tracks:
Track A) Major Historical Support
Track B) Ranging Zone
Track C) Mid-Cycle Top
Track D) Cycle TopObserving the… pic.twitter.com/r5XRVC0a8T
— EGRAG CRYPTO (@egragcrypto) June 2, 2023
The concept of “The Bent Fork”, introduced by Egrag in his initial analysis, describes an XRP roadmap consisting of four different tracks: Major Historical Support, Ranging Zone, Mid-Cycle Top, and Cycle Top. Based on his careful observation of prevailing market conditions, Egrag identified that XRP’s journey aligns with the Cycle Top track, which could potentially lead to a $15 price for XRP.
Egrag further highlighted the presence of a Red Falling Wedge that XRP has been trading within since 2021. According to the analyst, if XRP manages to break out of this Falling Wedge pattern decisively, it could initiate an explosive rally.
Egrag’s prediction attract a lot of the community’s attention
While Egrag’s analysis has garnered attention and generated excitement within the XRP community, it is important to approach such projections with caution. The cryptocurrency market is highly volatile and subject to various factors that can influence price movements. Investors should conduct their research and consider multiple perspectives before making any investment decisions.
As the XRP community eagerly awaits the potential breakout, all eyes will be on the market in the coming months to see if Egrag’s projections come to fruition and if XRP experiences the anticipated rally towards $15.
Follow us on Twitter, Facebook, Telegram, and Google News.
Â