Prominent analyst EGRAG CRYPTO recently tweeted an optimistic prognosis for XRP, suggesting possible bullish momentum that might push the digital asset to new heights. The statement caused a stir in the cryptocurrency world. The expert advises XRP fans to monitor the charts closely, especially the monthly one, since there is still a critical level that needs to be crossed.
The analyst pointed out that XRP has not yet been able to close a monthly candle over $1.2 and emphasised that body candles do occur, but not a full-body candle. He expressed the opinion that there will be a big move above $2 when XRP ultimately closes a monthly candle with a complete body above $1.2.
https://x.com/egragcrypto/status/1733749209147338928?s=20
EGRAG CRYPTO expressed confidence and conviction in their prediction that the market will experience a significant FOMO (fear of missing out) after $2 was reached. The analyst’s XRP price forecast is that the currency may make a move up from its present levels, with a target price of $2 and above.
XRP price movements
Even though XRP is now trading at $0.6528, down 4.32% from the previous day, it has increased by 5.17% over the last seven days. According to the current trade setting, XRP is nearing a crucial neckline and is in the midst of a parabolic comeback. According to analysts such as EGRAG CRYPTO, a minor upward push from present levels would pave the way for this predicted spike.
Based on a daily time frame analysis, the price of XRP is almost finished with a “cup and handle” pattern. The moving average convergence divergence (MACD) shows increasing buying pressure, while the relative strength index (RSI) has hit the upper resistance. Combining these two points points to an optimistic attitude and hopes for a successful weekly trade closing.
An expected increase in trading volume as the year draws to a close might raise the price of XRP even further. The XRP army’s increasing optimism might lead to a significant increase in purchasing volume, which could drive the price closer to the $0.74 and $0.8 goals by the end of 2023.
It is predicted that the price of XRP will rise to the next objective, which is $0.94, opening the door for a breakthrough above the $1 mark in the first few months of 2024. The cryptocurrency community is looking forward to these possible changes and hopes that XRP’s market performance will rebound in the upcoming months.
