Saturday, May 31, 2025
No Result
View All Result
DOLLAR BITCOIN
Shop
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
DOLLAR BITCOIN
No Result
View All Result
Home Market & Analysis

XRP Price Could Hit $220 With Gamma-Ray Burst: Crypto Analyst

n70products by n70products
January 9, 2024
in Market & Analysis
0
XRP Price Could Hit $220 With Gamma-Ray Burst: Crypto Analyst
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Egrag Crypto, a crypto analyst on X, has launched a technical evaluation that means a possible surge within the value of XRP to as excessive as $220, drawing a vivid parallel to the astronomical occasion referred to as a Gamma-Ray Burst (GRB). In monetary charting, the GRB analogy displays a surge in value with a major magnitude and rapidity, akin to the extreme vitality launch of a cosmic GRB.

Egrag makes use of a Fibonacci Channel (Fib Channel) for his forecast, a technical evaluation device that merchants make use of to determine potential ranges of assist and resistance based mostly on the Fibonacci sequence. A Fib Channel is constructed by drawing a trendline between two excessive factors, usually a excessive and a low, after which dividing the vertical distance by the important thing Fibonacci ratios. These ranges are parallel strains that run throughout the chart, which might act as markers for value targets or reversals.

Cosmic XRP Value Targets

The 1-month chart of XRP/USD shared by Egrag on X outlines these Fib ranges. Egrag notes, “Reflecting on XRP’s potential to reflect its 2017 trajectory, analyzing present value positions reveals essential figures inside The Fib Channel.” Accordingly, the numerous future value factors are at $2.2 (0.236 Fib), $5.8 (0.382 Fib), $11 (0.5 Fib), $33 (0.702 Fib), and eventually, the zenith at $220 (1.0 Fib).

XRP price analysis
XRP value evaluation | Supply: X @egragcrypto

Moreover, the evaluation identifies the 2 “Bull Market Traces” on the chart, which have been instrumental in previous XRP value actions. Egrag’s evaluation anticipates a 3rd encounter with these strains, a attainable indicator of a brand new uptrend.

The primary encounter was when the XRP value crossed the primary “bull market line” in March 2017. The XRP value rose by a whopping 60,000%, from $0.005 to $3.30, the present all-time high. This now additionally varieties the place to begin for the second “bull market line”, with its second connection level derived from its April 2021 excessive at $1.97.

In keeping with Egrag, the XRP value at present wants to beat the $1.20 mark in an effort to cross the “Bull Market Line – 2”. An impulse for this might be a crossover of the Easy Shifting Common (SMA) and 24 SMA within the 1-month chart.

Egrag notes, “As soon as the bullish cross occurs, nearly 1 month later, the XRP bull run begins,” aligning with historic value actions marked on the chart as ‘Cross 1’ and ‘Cross 2’. The analyst suggests {that a} related crossover is imminent, forecasting a shift from a bearish to a bullish market. Notably, the crossover occurred on the finish of December 2023 and the start of January 2024.

Egrag’s commentary on the social platform X provides a rallying name to the XRP neighborhood: “XRP Military: STAY STEADY And Get Prepared, the shift from Crimson to Blue, and finally to Inexperienced, is imminent. It is going to be a GRB Occasion.”

The Momentum Nonetheless Has To Flip Bullish

In conclusion, Egrag’s evaluation presents a bullish case for the altcoin, with exact value targets and technical indicators serving as a information for potential future movements. Nonetheless, as with all market analyses, buyers are suggested to strategy with warning and conduct their very own analysis.

The XRP value has not fared effectively in current months. Regardless of Ripple’s large win within the XRP lawsuit, the worth has misplaced all its positive factors. At press time, XRP traded beneath the 200-day exponential shifting common (EMA), which is taken into account to be the “bull line” in technical evaluation.

XRP price
XRP value, 1-day chart | Supply: XRPUSD on TradingView.com

Featured picture from iStock, chart from TradingView.com

Disclaimer: The article is supplied for academic functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your personal analysis earlier than making any funding choices. Use data supplied on this web site completely at your personal threat.





Source link

Tags: AnalystBurstCryptoGammaRayhitPriceXRP
Previous Post

ETF Analyst: Approval of Ethereum Spot ETF in US Could Happen This Year

Next Post

Ripple Vs. SEC: All Quiet On The Battle Front, Legal Expert Explains Why

Next Post
Ripple Vs. SEC: All Quiet On The Battle Front, Legal Expert Explains Why

Ripple Vs. SEC: All Quiet On The Battle Front, Legal Expert Explains Why

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Premium Content

Bitcoin Rally Expected Once Price Breaks $69,500 – FOMO Likely?

Bitcoin Rally Expected Once Price Breaks $69,500 – FOMO Likely?

September 15, 2024
China Cracks Down on Escalating Cyber Crimes

China Cracks Down on Escalating Cyber Crimes

February 25, 2024
BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets

BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets

March 18, 2025
Amphora: A Major Merge Milestone

Amphora: A Major Merge Milestone

April 5, 2024
Analyst Identifies $90,000 As Bitcoin’s Pivotal Support

Analyst Identifies $90,000 As Bitcoin’s Pivotal Support

May 23, 2025
Development Update #3 – Ethereum.org

Development Update #3 – Ethereum.org

October 14, 2024

Recent Posts

  • Bitcoin Price Extends Losses — Is More Downside on the Horizon?
  • DEVcon is back! | Ethereum Foundation Blog
  • Bitcoin Is Still in a Strong Bullish Trend Despite Losing Major Support Level, Says Trader – Here’s His Outlook

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Blog
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

Bitcoin Price Extends Losses — Is More Downside on the Horizon?

Bitcoin Price Extends Losses — Is More Downside on the Horizon?

May 31, 2025
Audit Results for the Pectra System Contracts

DEVcon is back! | Ethereum Foundation Blog

May 31, 2025

© 2023 Dollar-Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2023 Dollar-Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version