Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75
2024年6月8日 - 5:00AM
NEWSBTC
Crypto analyst Egrag Crypto has revealed a bullish pattern that
recently formed on the XRP price chart. The analyst also revealed
how high the crypto token could rise once it makes this move to the
upside. Inverted Hammer Forms On The Chart Egrag
highlighted an Inverted hammer that had formed on XRP’s chart while
noting how bullish this was for the crypto token. He claimed that
last month’s candle formation showed a 75% Inverted Hammer at the
bottom, which is “super bullish” for XRP. Egrag believes this is an
“amazing sign” that the altcoin could rise to $0.75 soon enough. He
added that July will be a “month of fireworks” for XRP.
Related Reading: Bitcoin Price Surge To $71,000 Sends All Long-Term
Holders Into Profit, What About Short-Term Holders? XRP’s possible
rise to $0.75 is significant, as Egrag had previously highlighted
that price level as a “critical breakout point” for XRP. Back then,
he mentioned that XRP was “poised” to achieve this breakout in the
coming weeks. He suggested an XRP breakout above that price level
would send it to $1.5, and the crypto token could enjoy a further
upward trend to $7.5. Crypto analyst CasiTrades also recently
provided a bullish narrative for the altcoin. She stated that the
crypto token is maintaining its bullish momentum and bouncing off
the 0.382 retracement level. The analyst added that XRP has finally
flipped a trendline that had acted as resistance for months to
support. Meanwhile, CasiTrades highlighted $0.54 as a price level
to keep an eye on, stating that XRP could encounter resistance at
that level. She suggested that the coin could enjoy a parabolic
move if it breaks out above that price level, remarking that it is
a “crucial level to watch for a potential breakthrough.”CasiTrades
previously raised the possibility of the altcoin rising to as high
as $80 when it breaks out from a consolidation triangle. XRP
Is On The Brink Of A Parabolic Rally Crypto analyst Mikybull Crypto
recently suggested that XRP was on the brink of a parabolic rally.
He stated in an X post that the token is currently at the level it
was in 2017 and 2020, which triggered a “massive rally” for the
crypto token on both occasions. In 2017, the altcoin enjoyed a
price gain of 61,000% in 280 days. Related Reading: Shiba Inu
Open Interest Returns To February 2024 Levels, What Happened Last
Time? The chart that Mikybull Crypto shared showed that the altcoin
could rise to as high as $5. Meanwhile, crypto analyst XRP Captain
claimed that the altcoin was ready for the “massive breakout.” He
claimed that XRP is in the “middle of apex. ” Crypto analyst Jaydee
also agreed with XRP Captain that a breakout is imminent, stating
that “it’s coming,” although he claimed that “beginners” will miss
out on the run. At the time of writing, XRP is trading at around
$0.52, up in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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