Influential crypto analyst Egrag Crypto recently shared his opinion on XRP and he believes that the price of the XRP is set to rise massively. In this analysis, XRP also shows the same phenomenon of trading below the 100-day moving average (MA), ranging, and then breaking above it. This cyclic behavior has been seen in earlier times and Egrag Crypto expects this to lead to another rally.
Egrag Crypto also pointed out the 100 MA level as crucial. He pointed out that the next pump should take XRP above the 100 MA and sustain it at this level. Getting a close above the 100 MA would indicate a break out for the cryptocurrency, which is something of importance for the digital currency. He says that this close above the 100MA will be particularly significant this time around and could propel Ripple to new highs.
Analyst’s Prediction Fuels XRP Hype
The analyst has expressed optimism in the future of cryptocurrencies during a period of increased fluctuations in the market. Regardless of the volatility of the broader market, XRP has held its ground and his prediction further fuels excitement within the community.
The opinions of the analyst are generally positive and have created significant hype among the Ripple community. Since the man has a history of getting his predictions right, his latest forecast becomes a point of focus for investors and traders. Ripple coin has attracted the attention of many people as they wait for the signals that will make it go up and achieve the expected breakout.
Egrag Crypto’s message for the XRP community to remain patient is a reminder that persistence is key in the ever-shifting market. His analysis gives hope to investors who have invested in the cryptocurrency market or those who wish to invest in the future.
Now that the investors and traders are able to observe this bullish pattern, they are now waiting to see if XRP will also follow the same path. The next few months will be crucial to define whether the cryptocurrency will be capable of penetrating and holding above the 100 MA, on its way to the expected target of $0.75.