{"id":554930,"date":"2023-10-11T10:00:18","date_gmt":"2023-10-11T10:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=554930"},"modified":"2024-06-11T08:02:09","modified_gmt":"2024-06-11T08:02:09","slug":"xrp-price-retest-prelude-to-2-dollar","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-retest-prelude-to-2-dollar\/","title":{"rendered":"XRP Price Retest: A Prelude To A Stunning Surge To $2, Predicts Expert"},"content":{"rendered":"
Renowned crypto analyst Egrag delivered a fresh and in-depth XRP price analysis across multiple timeframes today. As of press time, the cryptocurrency stands at $0.4825, marking a decrease of about 12% since October 3, when it reached a high of $0.5478. Despite the bearish momentum fueled by the broader crypto market trend, Egrag projects bullishness on higher time frames.<\/p>\n
Monthly Chart XRP\/USD<\/h2>\n
On the monthly XRP\/USD chart, Egrag took to Twitter to share his insights, stating: “XRP Monthly Bullish Pennant – Super Bullish Sign: Do you spot the pattern like I do? It’s incredibly bullish!” According to Egrag, trading on a monthly time frame reduces the chance of false signals.<\/p>\n
He believes that a strong flagpole hints at a rapid price increase, and the ongoing consolidation phase forms the pennant. The current pause in the uptrend could potentially lead to further upward movement, especially if there’s a surge in volume after a breakout. For this scenario to occur, XRP shouldn’t break out to the downside, but stay within the two approximating lines until the breakout north.<\/p>\n