Egrag Crypto, a top analyst on X, shared an important update on the XRP price against Bitcoin. His latest analysis highlights the significance of certain technical levels that could influence the next major price movement.
He pointed to a possible bullish trend that could send the pair surging if key resistance areas are cleared. The analyst emphasized the importance of closing above crucial levels to initiate the next phase of growth in the XRP/BTC chart.
What you'll learn 👉
Key Resistance Areas to Watch
Egrag Crypto’s update reiterates the importance of monitoring the 21 EMA and a specific price level within the Triangle formation. According to his analysis, the first major hurdle is the 21 EMA.
Closing above this level could boost confidence in a bounce from the MACRO Trendline Bottom, which has held strong so far. The next key level is 0.000015, the edge of the current Triangle pattern. If XRP/BTC closes above this, Egrag believes that it will pave the way for a price surge.
XRP Price Scenarios Based on Historical Trends
In his February 2024 post, Egrag predicted that XRP/BTC might dip to the MACRO Trendline Bottom before any movement. He outlined various scenarios based on historical price patterns, where similar formations led to substantial pumps in the past.
If XRP/BTC clears both the 21 EMA and the Triangle edge, the analyst predicts a potential rise to 0.000027. This prediction is backed by historical data, where similar patterns triggered sharp increases in price. After reaching 0.000027, Egrag expects a possible retest of the 0.000015 level, which could solidify the bullish trend.
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What Comes Next for XRP/BTC?
If this bullish scenario unfolds, Egrag refers to it as the opening of the “Valhalla Gateway,” indicating a potential long-term upward trend. While this sounds optimistic, the analyst cautions that it’s essential to monitor key levels closely before expecting any gains.
The XRP community, often referred to as the XRP Army, has been encouraged by Egrag to remain patient and steady, as the XRP chart’s current formation has accurately predicted past price pumps.
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