Reasons to trust
Strict editing policy focusing on accuracy, relevance and fairness
Created by industry experts and meticulously reviewed
The highest standard for reporting and publishing
Strict editing policy focusing on accuracy, relevance and fairness
The soccer price for the Lion and Player is soft. I hate each of my arcu lorem, ultricy kids, or ullamcorper football.
This article is also available in Spanish.
Independent market engineer Egrag Crypto has posted an updated weekly XRP/USD chart for X. The entire visual 2024 and beyond 2024 progress framed as flag electrodes for the classic Bull flag continuation pattern, claiming that the following ten weeks of drift was traced by the high-slanted sonlanted high the nowranted nowands hardened nowands hardened drift of the crowd wrapped in nutritious rails nearby. Magenta.
XRP is ready for breakout
“The rising success rate is around 67-70%,” the analyst wrote, citing bulk pattern recognition studies that support the statistical edge of the setup. The XRP is trading for nearly $2.30. This is the value marked on the chart by a blue dotted horizontal line intersecting the flag body.
Related readings
Below that, the $1.50 white line records the breakout shelf in late 2024. This serves as support for the first higher time frame, but is deep horizontally, about $0.60 from the base where the current cycle began. Passing the entire structure is a yellow moving average rising, consistent with the 20-week EMA (currently $2.21).
From that foundation, the engineer derives three measured moving targets. “In long-term breakouts, we prefer log charts, especially in cryptography, because of exponential growth in the short term,” he explained. Based on that, the log scale projection estimates the perfect height of the flag electrode and lands at $18.00. Advance’s linear projection treats an equal dollar prints a significantly lower $5.50. Egrag, who shoots what he describes as “a liquidity-adjusted average, my favorite way of crypto targets,” settles at $11.75.
Related readings
Because the orderbook for digital assets is relatively thin, analysts overlay 15-20% fluctuation bands, increasing log targets to around $20.70-$21.60, averaged between $13.51-$14.10, and linearly between $6.33-$6.60. “Crypto liquidity is still small compared to legacy markets, so we usually apply volatility of 15-20%. So the target can be scaled in both ways,” he warned.
The disclaimer printed directly on the graphics repeats that numbers and targets are “simulation only, not financial advice.” Still, the roadmap is clear for EGRAG. As long as XRP defends the mid-flag zone, nearly $2.30, and critically, a structural pivot of $1.50, engineers argue that the ultimate breakout could push the token into double-digit territory.
At press time, the XRP trades for $2.28 and hovers just below the top trend line of the Bull Flag. Overcoming resistance could accelerate XRP prices to $2.50 and $2.71, respectively, towards retracement levels of 0.5 and 0.618 Fibonacci, respectively.
Featured images created with dall.e, charts on tradingview.com
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
