EGRAG's analysis paints a bullish picture for #XRP , suggesting that the asset has recovered from a multi-month trend line and has also successfully retested the break. He believes that this retest sets the stage for a potentially significant upward movement in the XRP price.

In particular, this several-month-long downtrend line occurred when XRP fell from its high of $1.96 in April 2021. The trend line continued until July of this year. XRP rose above this level on July 13 after the lawsuit victory. But in the midst of the correction, the asset has now retested the trend line.

VAH, which is located at $ 0.55, is located above this trend line. EGRAG believes that XRP should consolidate its position above VAH. He also stressed that exceeding the $ 1 limit at weekly candle closures is of structural and psychological importance for XRP.

XRP Can Go Up to $ 3 or $4.5

The analyst pointed out the yellow trend line on the chart, which he believes may pose a formidable challenge in the future journey of XRP. He describes this trend line as the next macro resistance point for XRP.

The data on the chart indicates that the upcoming rise of XRP will hit a barrier on this yellow trend line. According to him, the longer it takes for XRP to create enough ground for a rally, the greater its potential value will be when the rally arrives.

Interestingly, if XRP projects the upcoming rally earlier, it may encounter the next macro resistance, $ 3, which represents the next obstacle to the rally. However, if XRP takes longer to recover, the next macro resistance will stop at $4.5

EGRAG addressed the XRP community and urged them to remain committed. He noted that the next time XRP closes above $1, it may indicate that XRP trading will end below $1 per month. While the current value of XRP is $0.5227, reaching $4.5 would require a rally of 761%.

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