Analyst Reveals Why XRP Is Stalling, Predicts 600% Mega Pump
Main Idea
Crypto analyst EGRAG CRYPTO highlights XRP's prolonged resistance at a key zone, predicting a potential 600% price surge if it breaks through this level, based on technical and historical patterns.
Key Points
1. XRP has faced resistance at a key zone for over 240 days, hindering upward momentum despite broader market activity.
2. A breakout above the 'Bifrost Bridge' resistance could trigger a 600% price surge, targeting $24 from the current $3.14 level.
3. Historical patterns, including a similar accumulation phase before XRP's 2017 surge, support the potential for a breakout.
4. The analyst emphasizes that a strong close above the resistance zone is crucial for confirming the breakout opportunity.
5. The technical setup shows XRP retesting the bottom of an ascending channel multiple times, reinforcing the potential for a significant move.
Description
Crypto analyst EGRAG CRYPTO (@egragcrypto) has placed a spotlight on XRP’s ongoing struggle to move beyond the critical price level, identified as the “Bifrost Bridge.” The analyst noted that for over 240 days, XRP has encountered resistance at this zone, halting further upward momentum despite broader market activity. This resistance, as illustrated in EGRAG CRYPTO’s two-month chart, has become a focal point for XRP holders anticipating a significant breakout. #XRP – Why #XRP Is Stalling : It's...
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