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Why XRP Could Hit $7.5 Sooner Than You Think: Expert Insights Unveiled

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Why XRP Could Hit $7.5

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The digital currency XRP, one of the major altcoins in the crypto market, is currently showing signs that may excite investors and traders.

Recent analyses indicate the potential for significant price movement. According to Egrag Crypto, a prominent cryptocurrency analyst, the altcoin’s price could ascend to ambitious new heights in the coming months based on technical patterns and market trends.

Related Reading

XRP Price

Crypto Analyst Predicts XRP At $0.75 In July Despite Year-Long Slump

1 year ago

Technical Indicators Pointing Upwards

XRP has so far emerged as a focal point for potential bullish activity. Notably, the asset has recently broken out of a week-long downtrend, recording a 1.6% uptick in the last 24 hours, with its price now hovering around $0.5032.

This shift comes as the market is closely watching several key indicators that could predict further gains. According to the technical analysis done by Egrag, there is currently a preliminary target for XRP at $7.5, known as the Atlas Line target.

Egrag Crypto also expresses a strong confidence that XRP will break through the White Triangle pattern—a technical configuration seen as a critical indicator of future price movement—in the chart he shared (below).

XRP to break through the White Triangle pattern.
XRP to break through the White Triangle pattern. | Source: Egrag Crypto on X

Breaking this pattern could set the stage for reaching and surpassing a “measured move at $1.5” levels, according to the analyst.

Further technical analysis identifies the Fibonacci 1.618 zone, stretching from $6.5 to $7.5, as a critical region for potential profit-taking should the token’s price ascend to these levels.

Achieving a weekly close above this range could set XRP toward mid-double-digit prices, approaching the Fib levels of 2.414 and 2.618. Such movements would underscore a strong bullish trend, provided the current market momentum continues.

#XRP ATLAS LINE – $7.5 is Target Number 1 (UPDATE): 🌟🚀✨

A) With high conviction, I can say that #XRP will break the White Triangle and hit the measured move at $1.5. 💪💎

B) Moreover, the Fib 1.618 zone ($6.5-$7.5) is critical, and taking profits will happen here. 📈💰

C)… pic.twitter.com/MyKqoczSa3

— EGRAG CRYPTO (@egragcrypto) June 10, 2024

XRP Market Sentiment And Analyst Perspectives

Adding to the optimism, another analyst known as “Jack The Rippler” recently pointed out a bullish triangle pattern forming on the daily chart for the token. If this pattern successfully breaks above the $0.600 level, it could trigger an exceptionally bullish trend.

However, despite these optimistic technical forecasts, the reality of reaching such high figures remains speculative, with significant resistance levels that must be overcome in the short term.

Related Reading

XRP Price Faces Hurdles: Will It Overcome the Obstacles?

1 year ago

Meanwhile, Egrag Crypto highlights the potential for rotational profits from other altcoins to bolster XRP’s market position. The analyst concluded his analysis: “The rotational profits will pour 100% into XRP because it is the BLACKHORSE which all my bets are on.”

XRP price chart on TradingView
XRP price is moving sideways on the 4-hour chart. Source: XRP/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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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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Created by industry experts and meticulously reviewed
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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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