Analyst Egrag Crypto anticipates a break above $1.2 for XRP's price. Further, analyst Dark Defender adds to optimism on future price movements despite XRP's current volatility.
The latest update from the crypto market analyst Egrag crypto has garnered noteworthy attention towards XRP, the Ripple Labs-backed cryptocurrency. Dated today, May 27, the post shared on X facilitated vital insights into XRP’s current price movements, suggesting that the token could top $1.2 ahead.
Another renowned crypto market analyst, Dark Defender, has shared optimistic insights into XRP’s future price movements. These comments, collectively, have sparked a significant buzz across the broader crypto market as analysts maintain their positive outlook on the Ripple-backed token’s future despite its recent sluggish performance. Let’s delve deeper into the analysts’ remarks, which have ignited a storm of speculations.
Egrag Crypto Says XRP To Trade Between $1.2-$1.5
Egrag Crypto took a two-section post to X, unraveling the ‘Genuine Wake-up line’ bullish trend on XRP’s chart. Notably, the first section (Break-out) highlights a pattern known as the ‘White Triangle’ and its alignment with previous charts and Fibonacci levels 0.702 – 0.786, hinting towards a potential breakout. “The measured move is projected to be between $1.2 – $1.5,” Egrag added.
The critical break-out point is around $0.70 – $0.75, and the analyst stresses that XRP remains poised to break out in the coming couple of weeks.
Meanwhile, the second section highlighted that XRP is holding like a ‘boss’ on the Atlas line, with resistance at $0.5777, support at $0.5000, and a break-out point at $0.6799. Although Egrag warns of a retest of the break-out in the short term, XRP remains poised for a “Mega Run” ahead, the analyst stated.
Dark Defender Pours Optimism Into Future Movements
Additionally, Dark Defender, in a post on X, stresses the Ripple-backed token being in its ‘Grand Wave 3.’ The analyst draws attention to Heikin Ashi Candles, a trading analysis tool often used in combination with the Fisher Indicator, highlighting price movements on the weekly time frame.
XRP to encounter a challenging zone between $0.6044 and $0.6649, Dark Defender proclaims. However, once the weekly candle closes above $0.6649, the Ripple-backed token remains poised for colossal gains.
XRP Price Tumbles
Meanwhile, XRP’s price was noted to dip by 1.26% to $0.5289 as of writing. The token’s market cap rested at $29.31 billion, whereas the 24-hour trading volume was $804.30 million. Its 24-hour lows and highs are $0.5238 and $0.5366, respectively.
Recent market statistics spotlighted by CoinGape further paint an uncertain picture of the token’s future. RSI, along with other market statistics, underscores mixed investor sentiments orbiting the Ripple Labs-backed digital asset.