{"id":568719,"date":"2024-01-09T14:00:51","date_gmt":"2024-01-09T14:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=568719"},"modified":"2024-06-11T14:44:12","modified_gmt":"2024-06-11T14:44:12","slug":"xrp-price-220-gamma-ray-burst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-220-gamma-ray-burst\/","title":{"rendered":"XRP Price Could Hit $220 With Gamma-Ray Burst: Crypto Analyst"},"content":{"rendered":"
Egrag Crypto, a crypto analyst on X, has released a technical analysis that suggests a potential surge in the price of XRP to as high as $220, drawing a vivid parallel to the astronomical event known as a Gamma-Ray Burst (GRB). In financial charting, the GRB analogy reflects a surge in price with a significant magnitude and rapidity, akin to the intense energy release of a cosmic GRB.<\/p>\n
Egrag utilizes a Fibonacci Channel (Fib Channel) for his forecast, a technical analysis tool that traders employ to identify potential levels of support and resistance based on the Fibonacci sequence. A Fib Channel is constructed by drawing a trendline between two extreme points, typically a high and a low, and then dividing the vertical distance by the key Fibonacci ratios. These levels are parallel lines that run across the chart, which can act as markers for price targets or reversals.<\/p>\n