Investors are generating significant interest in a recent #XRP price forecast provided by Analist a renowned cryptocurrency expert. Based on a comprehensive research conducted over many timeframes, Egrag posits that XRP has significant resilience, suggesting the possibility of a substantial upswing towards the price level of $1.4. The analyst expounded upon his forecasts in a tweet, articulating, "XRP Colour Code To $1.4 – UPDATE: Endeavouring to demonstrate the considerable potency and accomplishments of XRP across various temporal intervals: Weekly, 3D, 1D, and 4H."
Upon analysing the Weekly Chart, Analist discovers a clear indication of a positive momentum. XRP is currently poised to reach a significant milestone by surpassing the Fib 0.618 retracement level at $0.5119, as indicated by the formation of a complete candlestick pattern. Egrag observes that the impending conclusion of the upcoming week and the final configuration of the candle would provide a strong confirmation of this pattern.
Analist thorough analysis identifies crucial milestones in the XRP price trend depicted on the 1-week chart. The range of wicking is delineated as being between $0.3875 and $0.4719. The occurrence of a breach below the price level of $0.3875 has the potential to disturb the overall configuration of the chart.
In the interim, the zone of fluctuation, within which XRP has been moving without a distinct directional trend (and from which XRP is presently departing), is positioned between the price levels of $0.4719 and $0.5119. The breach of the $0.5119 threshold in the weekly period results in XRP entering a positive territory, with a subsequent rise towards $0.5738, aligning with the 50% Fibonacci retracement level.
The crypto expert hypothesises that the violation of this crucial price level has the potential to trigger a widespread surge in XRP. If XRP surpasses the 50% Fibonacci zone, it may encounter minimal resistance, which might enable it to exceed its highest value of $0.9310 for the year. In his comprehensive research, Egrag presents a bold final scenario: a remarkable increase of 250%, driving XRP into the 1,618 Fibonacci extension level at $1.4695.Shifting our attention to the three-day chart, $XRP exhibits a candle body that concludes above the Fibonacci 0.618 retracement level, suggesting its position inside the positive region. However, the present configuration of the candle exhibits a neutral Harami pattern, which allows for several interpretations and lacks a definitive directional bias.
This specific configuration, originating from the Japanese phrase denoting "pregnant," signifies a prospective turning point in the price trajectory. However, the impartiality of the subject requires us to have patience until more definitive indicators become available. Egrag highlights the significance of the imminent conclusion of the torch, scheduled to finish today, as it has the potential to illuminate crucial perspectives.
In the context of the 24-hour chart, the story exhibits a higher degree of assertiveness. XRP has demonstrated a consistent trend of above the Fib 0.618 benchmark for seven consecutive daily candles, resulting in positive gains. According to Analist postulation, this trend exudes a tangible sense of bullish sentiment. However, the author also suggests exercising caution in anticipation of a possible retest of the lower limit of the bullish green region, as this might further strengthen the underlying support.
Finally, when examining the 4-hour chart, a clearly identifiable double-top pattern becomes apparent. The current market behaviour of XRP indicates a notable resistance in surpassing the $0.55 threshold, leading to increased speculation over the potential formation of a double bottom pattern in the vicinity of $0.50. This particular trend has the potential to facilitate an incursion into the Fib 1.618 region, approximately valued at $0.576. The cryptocurrency analyst predicts that this is an indication of a bullish continuance.
