đźđIs XRP rising to $40? Market Analyst Offers Trajectory for XRP's 6,624% Price Rise
A price projection of XRP up to $ 40 may seem like fantasy to most industry commentators, but market analyst EGRAG is confident that there will be a price increase to this degree in the future.
EGRAG continued to provide short- and long-term goals for XRP, updating its previous analyses to reflect the current changes in the market.
However, despite the recent drop in the price of XRP amid the widespread collapse in the crypto Sunday, the analyst remains optimistic about the future of XRP.
XRP Is Stuck in the Rising Triangle
This continuous rise is evidenced in one of his recent reports on XRP, when he drew attention to the asset's movements on the weekly chart. EGRAG's chart revealed that XRP is currently trading in an ascending triangle, which has been going on since 2018.
The data on the chart shows that the triangle formation started when XRP fell from its all-time high of $3.31 in January 2018. After the collapse, XRP recorded lower levels until it fell to $0.1140 in March 2020. This represents the lowest price of XRP since then. Later.
In particular, the asset recovered from the price of $ 0.1140 and went into a comeback, buying back $ 1.96 in April 2021. However, despite the subsequent decline, XRP provided protection against the possibility of a decline to the low of $0.1140. Remarkably, XRP has continued to register lower levels since then.
Up 6.624% to $40
According to him, the XRP market will witness a resurgence of FOMO when XRP retests the $2 price. This FOMO will probably create intense buying pressure. However, the analyst stressed that XRP will fall from the $ 2 level and retest the lower ascending trend line.
EGRAG's chart predicts that XRP will recover after retesting the sub-trend line and eventually break the $2 price resistance. The analyst's ultimate target for when this break will occur is $ 40. This price represents a huge increase of 6.624% compared to the current value of XRP, $ 0.5948.
