A new XRP price prediction from notable crypto analyst, EGRAG CRYPTO, has investors buzzing. Based on a multi-timeframe analysis, Egrag believes XRP is showing considerable strength, hinting at a potential surge to $1.4. The analyst elucidated his predictions in a tweet, stating, “XRP Color Code To $1.4 – UPDATE: Trying to showcase the sheer strength and achievements of XRP from multiple time frames: Weekly, 3D, 1D, and 4H.”
XRP Price Analysis: 1-Week Chart
Delving into the Weekly Chart, Egrag finds an evident optimistic momentum. XRP is on the brink of achieving a notable milestone: sealing a full-body candle beyond the Fib 0.618 retracement level at $0.5119. Egrag notes that the imminent week’s closure and the definitive form of the candle would serve as a robust affirmation of this trend.
Egrag’s meticulous breakdown pinpoints vital landmarks for the XRP price trajectory in the 1-week chart. The wicking range is demarcated between $0.3875 and $0.4719. Any downward breach below $0.3875 might disrupt the broader chart setup.
Meanwhile, the ranging region, where XRP could oscillate without clear directional momentum (and which XRP is currently leaving), is situated between $0.4719 and $0.5119. Eclipsing the $0.5119 boundary in the weekly timeframe propels XRP into a bullish domain, leading up to $0.5738 — in sync with the 50% Fibonacci retracement echelon.
The crypto analyst postulates that the breach of this pivotal price level could catalyze a sweeping XRP rally. Venturing past the 50% Fibonacci zone might result in a landscape with scant resistance, potentially allowing XRP to shatter its annual peak at $0.9310. Concluding his extensive analysis, Egrag envisages an audacious endgame: a staggering 250% rally, propelling XRP towards the 1,618 Fibonacci extension at $1.4695.
Shorter Time Frames
Switching focus to the 3-day chart, XRP displays a body candle close above the Fibonacci 0.618 retracement level, indicating its presence in the bullish zone. Yet, the current shape of the candle is a neutral Harami style, leaving room for interpretation and lacking a decisive forward direction.
This particular formation, rooted in the Japanese term for “pregnant,” represents a potential inflection point in the price movement. Yet, its neutrality necessitates waiting for more concrete signals. Egrag emphasizes that the impending candle, closing today, might shed light on…
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