Top Analyst Identifies Technical Pattern to Drive XRP Prices to $4.60
- Analyst Egrag predicts XRP could reach $4.60 based on an Inverse Head and Shoulders pattern.
- XRP must maintain support at $2 and flip $2.65 into support for bullish momentum.
- Veteran trader Peter Brandt warns of a bearish pattern that could lead to a drop to $1.07.
In a recent tweet, crypto analyst Egrag shared a promising technical outlook for XRP, revealing key price targets and a potentially bullish chart formation developing.
Egrag highlighted a key Inverse Head and Shoulders (I H&S) pattern to argue that XRP’s price action is shaping up for a potential breakout. According to the analysis, this formation remains valid until April 20, 2025, and could lead to a notable rally.
Key Levels to Watch for XRP
Currently trading around $2.10, XRP is at a crucial level where maintaining support at $2 is essential. A breakdown below this level could lead to a temporary dip. However, he also suggested a quick rebound could occur if a “fair value gap” (a technical price inefficiency) gets filled on the chart.
For bullish momentum to build, XRP first needs to reclaim and flip the $2.65 level into solid support. A subsequent break above the major resistance near…
The post Top Analyst Identifies Technical Pattern to Drive XRP Prices to $4.60 appeared first on Coin Edition.
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Top Analyst Identifies Technical Pattern to Drive XRP Prices to $4.60
- Analyst Egrag predicts XRP could reach $4.60 based on an Inverse Head and Shoulders pattern.
- XRP must maintain support at $2 and flip $2.65 into support for bullish momentum.
- Veteran trader Peter Brandt warns of a bearish pattern that could lead to a drop to $1.07.
In a recent tweet, crypto analyst Egrag shared a promising technical outlook for XRP, revealing key price targets and a potentially bullish chart formation developing.
Egrag highlighted a key Inverse Head and Shoulders (I H&S) pattern to argue that XRP’s price action is shaping up for a potential breakout. According to the analysis, this formation remains valid until April 20, 2025, and could lead to a notable rally.
Key Levels to Watch for XRP
Currently trading around $2.10, XRP is at a crucial level where maintaining support at $2 is essential. A breakdown below this level could lead to a temporary dip. However, he also suggested a quick rebound could occur if a “fair value gap” (a technical price inefficiency) gets filled on the chart.
For bullish momentum to build, XRP first needs to reclaim and flip the $2.65 level into solid support. A subsequent break above the major resistance near…
The post Top Analyst Identifies Technical Pattern to Drive XRP Prices to $4.60 appeared first on Coin Edition.
Read More