Where could the XRP price go this year? X 'EGRAG CRYPTO' RIPPLE Community One of the leaders has just updated its XRP price forecast
The egrag diagram shows the price of the XRP, which has moved from 2017 to a clear ascending channel. This channel creates essential support and resistance zones that have contained XRP price movements for years.
21 months Exponential moving average (mother) appears as a yellow line of the chart, acting as a dynamic support or an obstacle level. Historically, the XRP has gained a significant impetus after he has firmly closed his mother. The first major breakthrough in 2017 came after a 6 -month compression around this mother.
Currently, the XRP has shown 5 monthly candles that consolidate over the mother, potentially reflecting the setting of the previous cycle. The chart is directly compared to the 6-white consolidation pattern since 2017 with the current 5-slip consolidation.
Price target and strategy
Egrag identifies several key prices in its analysis. The range of $ 3.40-3.41 marks the level of critical resistance from the peak of the 2018 cycle. Being over would confirm the significant macro changes in the XRP.
The analyst recommends the main target of $ 17.38 based on historical patterns and projection in the macro channel. This level corresponds to the upper border of the long -term channel.
More ambitious forecasts at a price of $ 27, $ 36 and $ 55 appear in the chart as lines with purple points. They denote expanded off when the XRP breaks completely above the macrocable.
| Element | Detail |
|---|---|
| Type of chart | Monthly (macroplace) |
| Trend | Rising in the macro canal |
| Mother | 21 mothers that support |
| Candlestick | A 6-month sealing pattern repeated from 2017 |
| Basic resistance | $ 3.40 (high cycle), $ 17.38 (top channel), $ 27/$ 36/$ 55 (extended) |
| Basic grant | $ 1.40 horizontal, 21 mothers dynamic, $ 0.50 long -term base |
| Mood | Bullish structure, observing a breakthrough attachment |
| Strategy | Gradual scaling from $ 17-27-55 when the targets hit |
In his accompanying tweet, Egrag notes: “We are now candle number 5, and if history is a guide, we could look at mega -monthly candles!” This shows that he thinks the XRP may reflect its 2017 pattern, where the sixth candle marked the holiday point.
The analyst mentions the gradual sales strategy, not departing at once, showing a disciplined approach to possible profits. “I have $ 27 in my eyes, but I intend to sell gradually in the event of a price increase,” he says.
The current price during the post is $ 2.22, already over 21 mothers. The price seems to compress the upper macro channel, which technical analysts often see as a potential breakdown zone.
Support levels include $ 1.40 (previous resistance supported support) and 21 mothers about $ 1,80-2.00, which would be the first dynamic support if the price is pulled back.
Read also: Ask AI to predict Ripple (XRP) price in May
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