{"id":842,"date":"2024-08-25T13:00:56","date_gmt":"2024-08-25T13:00:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=842"},"modified":"2024-08-25T13:00:56","modified_gmt":"2024-08-25T13:00:56","slug":"bullish-xrp-analyst-eyes-7-50-if-crypto-breaks-resistance","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=842","title":{"rendered":"Bullish XRP Analyst Eyes $7.50 If Crypto Breaks Resistance"},"content":{"rendered":"

The price of XRP is yet to embark on a bullish trajectory but many crypto analysts continue to remain bullish<\/a>. Among these analysts is EGRAG Crypto, a figure well-known in the crypto community for his consistently ultra-bullish perspective on XRP.<\/p>\n

In a recent detailed analysis shared on the social media platform X, EGRAG expressed his belief that XRP\u2019s prolonged period of trading under the $1 mark might soon be coming to an end. His technical analysis reveals the potential for a sustained upward price movement. According to EGRAG, XRP appears to be on the brink of a major bull rally that could propel the price to a target of $7.5, provided it successfully breaks out of a well-defined resistance trendline.<\/p>\n

Analyst Predicts XRP Rally To $7.5<\/h2>\n

EGRAG\u2019s analysis was made known through an XRP\/TetherUS weekly chart with price action going as far back as June 2019. Interestingly, the chart\u2019s technical analysis reveals two triangular price patterns<\/a>, one inside another. The smaller (white) triangle is formed with XRP\u2019s price action in the past year since June 2023. <\/p>\n

Encapsulating this smaller white triangle is a larger yellow triangle, which has been developing since June 2020, following a notable bullish rally. Notably, the price of XRP has been constricted between these triangles over the years. This has brought XRP to a critical juncture, with the current price action showing extreme compression within these triangular boundaries.<\/p>\n

EGRAG pointed out the upper trendline of these triangles as the \u201cGenuine Wake-Up Line.\u201d This trendline is seen as a key resistance level that could determine whether XRP breaks out into a significant bullish run or continues its consolidation. XRP is currently trading within the confined range of the white triangle, with the price hovering around $0.60.\u00a0<\/p>\n

The Catalyst<\/strong><\/h2>\n

EGRAG emphasizes that a weekly close above $0.64 could be the catalyst needed to test the \u201cGenuine Wake-Up Line,\u201d which is positioned between $0.70 and $0.75. As such, the primary objective of XRP bulls now is to make sure the crypto smashes through the \u201cGenuine Wake-Up Line\u201d as doing so would trigger a powerful rally.<\/p>\n

#XRP<\/a> Genuine Wake-Up Line (UPDATE):<\/p>\n

NOTHING HAS CHANGED \u2013 SAME STANCE, SAME TARGETS! <\/p>\n

A white Triangle is forming, capturing the highs from 2021. Enter the \u201cGenuine Wake-Up Line\u201d in yellow, signaling the next big move!<\/p>\n

Atlas Line Update:
\nYes, the \u201cAtlas Line\u201d was\u2026 https:\/\/t.co\/9eQlnnFM13<\/a> pic.twitter.com\/oY4H8i90sg<\/a><\/p>\n

\u2014 EGRAG CRYPTO (@egragcrypto) August 23, 2024<\/a><\/p>\n

In terms of price targets, EGRAG predicted an ambitious target of $1.5. If XRP continues to rally beyond this point, a more explosive move is expected, with EGRAG predicting a surge toward the 1.618 Fibonacci level. Notably, this corresponds with a price target of $7.5 from the larger yellow triangle.<\/p>\n

At the time of writing, XRP is trading at $0.60. To reach the target of $1.5, the price would need to increase<\/a> by 150%. Hitting $7.5 would require a bigger 1,150% surge from its current level.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

The price of XRP is yet to embark on a bullish trajectory but many crypto analysts continue to remain bullish. Among these analysts is EGRAG Crypto, a figure well-known in the crypto community for his consistently ultra-bullish perspective on XRP. In a recent detailed analysis shared on the social media platform X, EGRAG expressed his […]<\/p>\n","protected":false},"author":0,"featured_media":843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/842"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=842"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/843"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}