{"id":646104,"date":"2024-10-03T20:00:14","date_gmt":"2024-10-03T20:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=646104"},"modified":"2024-10-03T11:21:10","modified_gmt":"2024-10-03T11:21:10","slug":"crypto-analyst-7-50-xrp-target-sec-appeal","status":"publish","type":"post","link":"https:\/\/wncen.com\/xrp-news\/crypto-analyst-7-50-xrp-target-sec-appeal\/","title":{"rendered":"Crypto Analyst Maintains $7.50 XRP Target Despite SEC Appeal Against Ripple"},"content":{"rendered":"

Yesterday, Wednesday, the United States Securities and Exchange Commission (SEC) formally extended the XRP lawsuit against Ripple by filing a Notice of Appeal regarding Judge Torres’s ruling. Following this news<\/a>, the price of XRP plunged by more than 10%. However, crypto analyst Egrag Crypto (@egragcrypto) maintains that the bullish setup remains unchanged, with a target of $7.50 still in place for this bull run<\/a>.<\/p>\n

Why $7.5 Is Still Possible For XRP Price<\/h2>\n

Egrag’s analysis<\/a>, shared via X, emphasizes resilience in the XRP pricing structure despite the external pressures. He noted, “I get it, the SEC appeal might feel like the end of the world, but guess what? The chart has been signaling a retest was coming! My post from yesterday nailed it. I literally said: ‘I know you’re tired of hearing \u2018retest, retest,\u2019 but LISTEN UP: the range of $0.5428 – $0.5375 is STILL in play!'”<\/p>\n

Related Reading: XRP Open Interest Climbs To $1 Billion: What\u2019s Driving Interest In The Token?<\/a><\/div>\n

With his chart analysis, Egrag reassures holders that the foundational trading strategies should not be swayed by the legal noise. The analyst outlines two crucial trend lines which he terms the “Atlas Line” and the “Genuine Wake-Up Line.”<\/p>\n

\"XRP
XRP price analysis, 1-day chart | Source: X @egragcrypto<\/figcaption><\/figure>\n

Both trend lines have dominated the XRP price for more than four years. The “Atlas Line” serves as a baseline for the bull run\u2019s support level, suggesting that as long as the price does not drop below this marker, the bullish outlook is still valid. The “Genuine Wake-Up Line\u201d needs to be broken to enter bullish territory<\/a>.<\/p>\n

Related Reading: Bitwise\u2019s Spot XRP ETF Registration Statement Unveiled, Price Falls 7%<\/a><\/div>\n

However, Egrag also acknowledges that the price can deviate below or above the trend lines. \u201cFrom a TA perspective, the game plan is STILL rock solid. On a MACRO LEVEL, as long as XRP doesn\u2019t lose $0.28, we\u2019ve got nothing to worry about. And until XRP closes above $0.75, don\u2019t expect a full-on BULLRUN. We can still move downward to $0.43 but nothing is changed on MACRO LEVEL,\u201d Egrag writes.<\/p>\n

\"XRP
XRP price analysis (zoomed in), 1-day chart | Source: X @egragcrypto<\/figcaption><\/figure>\n

The analyst remains steadfast even in volatile times, stating, “So, what\u2019s next? NOTHING has changed: XRP IS STILL NOT A SECURITY<\/a>.” He continues to challenge the prevailing market reactions and encourages looking beyond immediate fluctuations, emphasizing the importance of technical indicators over market sentiments fueled by regulatory actions.<\/p>\n

His projected “Critical Target Level” at $7.50 signifies a strong conviction in the potential upward trajectory for the crypto asset, despite the current market setbacks. This target is audaciously higher than the current price levels. The price would have to rally more than 1,300%.<\/p>\n

Addressing the community and doubters, Egrag writes, “Everything in between? Just noise. And yeah, this noise may feel nasty to the newbies, but OGs know it\u2019s just more time to stack up. Honestly, I\u2019m HAPPY about this appeal: Why? Because it gives my other coins a chance to pump, and when they do, I\u2019m putting 100% of those profits into XRP.”<\/p>\n

At press time, XRP traded at $0.5238.<\/p>\n

\"XRP
XRP price retests the trend line breakout, 1-week chart | Source: XRPUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Yesterday, Wednesday, the United States Securities and Exchange Commission (SEC) formally extended the XRP lawsuit against Ripple by filing a Notice of Appeal regarding Judge Torres’s ruling. Following this news, the price of XRP plunged by more than 10%. However, crypto analyst Egrag Crypto (@egragcrypto) maintains that the bullish setup remains unchanged, with a target of $7.50 still in place for this bull run. Why $7.5 Is Still Possible For XRP Price Egrag’s analysis, shared via X, emphasizes resilience in the XRP pricing structure despite the external pressures. He noted, “I get it, the SEC appeal might feel like the end of the world, but guess what? The chart has been signaling a retest was coming! My post from yesterday nailed it. I literally said: ‘I know you’re tired of hearing \u2018retest, retest,\u2019 but LISTEN UP: the range of $0.5428 – $0.5375 is STILL in play!’” Related Reading: XRP Open Interest Climbs To $1 Billion: What\u2019s Driving Interest In The Token? With his chart analysis, Egrag reassures holders that the foundational trading strategies should not be swayed by the legal noise. The analyst outlines two crucial trend lines which he terms the “Atlas Line” and the “Genuine Wake-Up Line.” Both trend lines have dominated the XRP price for more than four years. The “Atlas Line” serves as a baseline for the bull run\u2019s support level, suggesting that as long as the price does not drop below this marker, the bullish outlook is still valid. The “Genuine Wake-Up Line\u201d needs to be broken to enter bullish territory. Related Reading: Bitwise\u2019s Spot XRP ETF Registration Statement Unveiled, Price Falls 7% However, Egrag also acknowledges that the price can deviate below or above the trend lines. \u201cFrom a TA perspective, the game plan is STILL rock solid. On a MACRO LEVEL, as long as XRP doesn\u2019t lose $0.28, we\u2019ve got nothing to worry about. And until XRP closes above $0.75, don\u2019t expect a full-on BULLRUN. We can still move downward to $0.43 but nothing is changed on MACRO LEVEL,\u201d Egrag writes. The analyst remains steadfast even in volatile times, stating, “So, what\u2019s next? NOTHING has changed: XRP IS STILL NOT A SECURITY.” He continues to challenge the prevailing market reactions and encourages looking beyond immediate fluctuations, emphasizing the importance of technical indicators over market sentiments fueled by regulatory actions. His projected “Critical Target Level” at $7.50 signifies a strong conviction in the potential upward trajectory for the crypto asset, despite the current market setbacks. This target is audaciously higher than the current price levels. The price would have to rally more than 1,300%. Addressing the community and doubters, Egrag writes, “Everything in between? Just noise. And yeah, this noise may feel nasty to the newbies, but OGs know it\u2019s just more time to stack up. Honestly, I\u2019m HAPPY about this appeal: Why? Because it gives my other coins a chance to pump, and when they do, I\u2019m putting 100% of those profits into XRP.” At press time, XRP traded at $0.5238. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":646110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89561],"tags":[3680,89065,3799,4531,83637,13172,15883,15573],"class_list":["post-646104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-ripple","tag-ripple-sec-appeal","tag-sec","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrp-price-analysis","tag-xrp-technical-analysis"],"acf":[],"yoast_head":"\nAnalyst Keeps $7.50 XRP Target Despite SEC Appeal Vs. 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