Analyst Says XRP Price Discovery Is Coming Soon. Here’s why
Main Idea
A crypto analyst predicts that XRP is on the verge of price discovery, drawing parallels to its 2017 breakout but with a more gradual climb, and highlights key price levels to watch.
Key Points
1. Analyst Galaxy notes XRP's current price movement mirrors its 2017 breakout pattern but is progressing more gradually.
2. Key historical price levels identified are $0.0638 (2014 peak and 2017 springboard) and $3.2913 (just below the 2018 all-time high of $3.36).
3. In 2017, XRP surged approximately 5,166% from $0.0638 to $3.36; a similar gain from the current price could push XRP to $172.6.
4. The $3.2913 level is seen as a crucial jump point for XRP's potential sustained rallies and new benchmarks.
5. XRP recently hit a new all-time high of $3.65 in July, with experts believing it still has momentum for further growth.
Description
Galaxy (@galaxyBTC), a pseudonymous crypto analyst, has recently shared a chart suggesting that XRP is approaching another price discovery phase. XRP has been moving in a pattern that mirrors its 2017 breakout, but at a more gradual pace. The chart, plotted on a three-day timeframe, highlights two major horizontal levels. The first is set at approximately $0.0638, a price that acted as the cryptocurrency’s peak in 2014 and later as a springboard for its sharp 2017 rise. The second is at $3.2913,...
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