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XRP Price To $27: Why Current ‘Boredom Phase’ Could Trigger Epic Rally

Scott Matherson
Scott Matherson
3 months ago
4 mins read
XRP

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A crypto analyst has predicted that the XRP price could hit $27 soon. He describes the cryptocurrency’s current price action as a “ Bermuda Triangle or boredom phase” — a period where the market moves slowly or sideways, fuelling doubt and uncertainty among traders and investors before a price rally. 

XRP Price Boredom Phase To Trigger $27 Surge

Crypto analyst Egrag Crypto has warned that the XRP price is in a Bermuda Triangle, a boredom phase characterized by price stagnation and market uncertainty designed to shake out weak hands before a significant price move. According to his prediction, while traders and investors are growing impatient and questioning why XRP has not experienced any notable price increases, this phase is merely a set-up for a strong rally toward $27.

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Following a predicted downturn in mid-March, XRP has struggled to recover its bullish momentum. The cryptocurrency was one of the top-performing altcoins in this bull cycle, jumping from a $0.5 low to over $3 for the first time in seven years.

Due to the current market decline, Egrag Crypto revealed that many traders are now wondering why “XRP hasn’t mooned.” The analyst explained that this price decline was intentional, forcing investors to second-guess themselves and make emotional trading decisions. 

He also disclosed that the XRP market is now filled with ‘What ifs’, as Fear, Uncertainty, and Doubt (FUD) cloud traders’ minds. Moreover, concerns over potential dips to $1.60 or $1.30 could push investors to panic-sell or attempt risky trades. 

The analyst also revealed that the XRP market is currently controlled by sharks and larger players, also called Whales. These large holders tend to influence price movements, triggering stop-losses and shaking out weak hands before a major rally. 

Egrag Crypto warns that new investors and traders are especially vulnerable, as frustration and boredom can lead to making financial mistakes. He disclosed that the best strategy to implement during this current market phase is to do nothing. He suggested investors stay disciplined and patient, recognizing that boredom phases are normal in crypto market cycles. 

The analyst also urged investors to remain vigilant and hold their positions while accumulating at ideal prices rather than react impulsively to rapid changes in the market. 

XRP Breakout Point Hints At New ATH

In other analyses, market expert ‘Steph Is Crypto’ has announced that XRP is currently retesting breakout levels to trigger a surge to a fresh ATH. The analyst’s price chart shows a Falling Wedge pattern which has been broken above the resistance at the upper trend line. 

Related Reading

XRP

XRP Price To $27: Why Current ‘Boredom Phase’ Could Trigger Epic Rally

3 months ago

After breaking out, XRP now retests this level to confirm a larger upward move. The large green arrow on the chart points to the cryptocurrency’s projected price target, suggesting a bullish continuation if the Falling Wedge breakout holds. 

XRP
Source: Steph  is Crypto on X

XRP’s upside potential is predicted to be $4 or higher if its bullish momentum is maintained. As of writing, the cryptocurrency is trading at $2.4, reflecting a 3.5% decline in the last 24 hours, according to CoinMarketCap. If its price rises to $4, it would represent a significant 66.7% increase from current levels.

XRP
XRP trading at $2.3 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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