XRP Enters Triangle Formation: Analyst Predicts Rise To $200 Amid 300% Surge In Volume
18 Junho 2024 - 6:00PM
NEWSBTC
Crypto analyst Egrag Crypto has provided insights into the XRP
future trajectory, predicting that the crypto token could rise to
three digits. His prediction comes amid a recent spike in XRP’s
trading volume, which also provides a bullish case for the crypto
token. XRP To Reach $200 At Some Point Egrag suggested in an
X (formerly Twitter) post that XRP could reach $200 at some point
based on its next triangle consolidation. He stated that in the
future, newbies would talk about how XRP’s price has remained
stagnant at around $50 (instead of its current price of around
$0.50) and that these same persons would complain about XRP pumping
from $50 to $200. Basically, the analyst was predicting that
XRP will experience exponential growth soon and that XRP newbies
will not understand how the crypto token has come a long way,
considering how it has remained stagnant for a while now. He
claimed these investors will “never comprehend seven years of
conviction and dedication.” Egrag acknowledged the
frustration regarding XRP’s tepid price action and even mentioned
that XRP Ledger (XRPL) builders are “starting to nag and feel
frustration.” However, as always, he urged the XRP army to “stay
steady.” He suggested that XRP is the token of the future, as he
stated that “all previous models will be thrown out the window
because they will not apply to the fourth industrial
revolution.” Egrag’s analysis comes amid a recent surge in
XRP’s derivatives trading volume, with data from Coinglass showing
a 300% increase and a total of $3.24 billion traded in the last 24
hours. Additionally, data from CoinMarketCap shows that XRP’s spot
trading volume is up by over 200% in the last 24 hours. This
development is significant. It shows that crypto investors and
traders are actively invested in the crypto token and may be
looking to accumulate more XRP during this period, which could
contribute to a price rally for the crypto token. Interestingly,
XRP is one of the few crypto tokens up in the last 24 hours despite
the recent crypto market dip. Another Bullish Outlook Crypto
analyst Casi Trades also recently offered a bullish outlook for
XRP. She claimed the crypto token looked “very bullish” as it had
just come off the golden retracement levels. Casi Trades further
stated that the altcoin needs to achieve a “strong breakout” above
these resistance levels, noting that such an occurrence will
clearly indicate a new trend. She suggested that this
could be a big moment for XRP, stating that “this test could be the
moment” that the market has been waiting for. Casi Trades sounded
optimistic that XRP could achieve this breakout as she stated that
Bitcoin had retraced close to the .618 level, which she believes
could set the stage for the breakout. Featured image created
with Dall.E, chart from Tradingview.com
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