Crypto analyst Egrag Crypto has recently provided a bullish narrative for the XRP price, outlining two potential scenarios that could lead to a breakout for the crypto token. One scenario involves a “White Triangle” breakout on the chart, aligning perfectly with previous charts and Fib 0.702 to 0.786 levels. According to Egrag, once XRP accomplishes this breakout, it could potentially climb as high as $7.5. He emphasized that the critical breakout point for XRP lies between $0.70 and $0.75, with the token poised to achieve this milestone in the next couple of weeks. Despite the possibility of significant declines before the breakout, Egrag remains confident that a “MEGA RUN for XRP” is on the horizon.
In the second scenario, Egrag highlighted an “Atlas Line” on the XRP chart, identifying the breakout point at $0.6799. He noted that XRP is currently holding strong on the atlas line, indicating that a breakthrough above $0.6799 is imminent. Key price levels to monitor include $0.5777 and $0.5000, which Egrag labels as resistance and support levels for XRP’s upward trend along the atlas line.
Egrag Crypto also revealed that XRP’s Relative Strength Index (RSI) has reached its lowest level ever, standing at 38 on the monthly time frame. This bullish signal suggests that XRP is oversold and undervalued, making it a potential buy opportunity for investors. The chart shared by Egrag demonstrates the positive implications of the low RSI level for XRP, indicating a strong bullish sentiment for the crypto token.
Overall, the analysis provided by Egrag Crypto paints a promising picture for XRP’s price outlook, with the potential for a breakout to $7.5 looming on the horizon. Investors are advised to monitor key price levels and breakout points identified by Egrag to capitalize on potential gains in the coming weeks.
