As the XRP community eagerly awaits the next major price movement, a well-known crypto analyst, EGRAG Crypto, has taken to X to share their insights on the current market cycle. By comparing historical data and analyzing the crossovers between the 20 Simple Moving Average (SMA) and the 50 SMA, the analyst has identified three potential scenarios for XRP’s future price action.
Cycle ‘A’, the first scenario, suggests that XRP could experience a rapid and aggressive price surge, akin to a “rocket ship-style pump.” This scenario is based on historical data, which reveals a previous instance of such a price movement.
The second scenario, Cycle ‘B’, appears to be less likely, as the current patterns between the 20 SMA and 50 SMA do not show evident similarities to this historical cycle. EGRAG Crypto believes that the market has likely surpassed this scenario.
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A New and Unexpected Scenario: 10X Amplification of Cycle ‘A’
The third and most intriguing scenario, according to the analyst, is the possibility that the current cycle is something entirely new and unexpected. EGRAG Crypto firmly believes that this cycle mirrors Cycle ‘A’ but with a significant amplification factor of 10X.
To illustrate this concept, the analyst explains that price levels in Cycle ‘A’ multiplied by 10 would result in a corresponding price level in the current cycle. For example, a price of 0.07 c in Cycle ‘A’ would equate to 0.70 c in the current cycle.
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Show more +Based on this analysis, EGRAG Crypto has set a target price of $27 for XRP, which is 10 times the peak price observed in Cycle ‘A. This bold prediction has generated significant buzz within the XRP community, with many investors and enthusiasts closely following the analyst’s updates.
Legal Developments: Joint Sealing Proposal Filed
In related news, defense lawyer James K. Filan has reported that the parties involved in the ongoing XRP lawsuit have filed a joint sealing proposal. The purpose of this proposal is to manage sealing concerns associated with the forthcoming remedies-related briefing in the case.
This development suggests that the legal battle surrounding XRP is far from over. The outcome of this case could have significant implications for the future of XRP and the broader crypto market.
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