XRP Price Projection Revisited: A Closer Look at Measured Moves
Main Idea
EGRAG Crypto provides an updated technical analysis of XRP's price trajectory, highlighting key formations and potential price targets based on measured moves and Fibonacci levels.
Key Points
1. EGRAG Crypto emphasizes the relevance of logarithmic measured moves in analyzing XRP's price trajectory.
2. A falling wedge formation from March 2023 is noted, with XRP failing to reach the expected $1.78 target.
3. A bullish pennant formation is identified, with potential price targets at $4.13, $5.68, $11.00, and an extended target at $22.13 (2.272 Fibonacci level).
4. Key support levels include the 'Super Strong Support' near $0.43 and the 'Macro GO-GO Level' around $1.96, which could trigger a rally if the trend holds.
5. The analysis encourages followers to maintain strategic positioning, though it disclaims being financial advice.
Description
In a recent technical analysis shared on social media, prominent crypto analyst EGRAG Crypto has presented an updated outlook on XRP’s price trajectory, emphasizing the relevance of logarithmic measured moves over traditional linear projections. According to the analyst, this shift in methodology may offer a more accurate framework for predicting price targets across the cryptocurrency market. EGRAG Crypto noted that logarithmic measurements appear more reliable when applied to cryptocurrencies ...
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