XRP Poised for Growth: Analyst Forecast Bullish Movement Ahead

Godspower Owie

1 year ago

3 mins read

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.

XRP witnessed an uptick this week moving closer to its 2024 high, but several trends have been cited by crypto analysts that could drive the token even higher in the coming months.

XRP Poised For A Positive Upward Trajectory

Crypto Egrag, a well-known cryptocurrency expert and trader, has shared his latest insights on the price action of XRP with the community on the social media platform X (formerly Twitter).

His analysis came in light of the general correction witnessed in the crypto market a few days back. Egrag’s latest predictions delve into XRP’s potential to reach a new all-time high in the upcoming months or bull cycle.

According to the analyst, XRP is presently demonstrating momentum to surpass a bullish cross in the short term. He anticipates this to happen within the year, putting his target around April and August.

Crypto Egrag has pointed out two historical instances which he dubbed Cycle 1 and 2 that suggest XRP could reach an unprecedented within the aforementioned timeframe.

XRP ready for a bullish cross | Source: Crypto Egrag on X

While drawing parallels to these historical trends, Egrag noted that the first cycle, which sent XRP to its peak, took around 280 days to reach the level after making a bullish cross. Meanwhile, the second cycle took XRP about 140 days to reach the same price level after forming the cross.

Consequently, the expert is extending his analysis to a comparable timeframe and duration from these data points. Thus, he has identified precisely the dates between April 8 and August 26 in which his forecast could be realized.

Hitherto, Egrag has urged the crypto community to remain unwavering and keep a watchful eye on these two dates, marking a significant day for the crypto asset.

Egrag’s X post was part of a previous analysis he made in August last year. In the post, the expert noted that the asset has formed a bullish cross, which usually ignites its price.

However, Egrag believes that one does not have to be a Technical Analyst (TA) to identify this action. Specifically, the bullish cross was formed by the “constant struggle” of the 21 weekly Exponential Moving Average (EMA) and the 100 Moving Average (MA).

Projected Time For The Token To Reach The $0.9 Threshold

Dark Defender, another crypto analyst, has pinpointed a timeframe for XRP to reach the $0.9 price mark. According to Dark Defender, the token arrived at several support levels and began to form a third (3rd) wave.

The wave was formed as a result of the altcoin reaching the mid-level Orange Resistance. Defender anticipates the coin to range between $0.7707 and $0.9191 between March 10 and 13 this year.

Furthermore, he has predicted a price target of $0.6462 by March 1. Nonetheless, taking into account XRP’s wary advances in recent times, Defender’s forecast seems to be very lofty.

XRP trading at $0.5898 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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.