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Recent updates from cryptocurrency market analysts Egrag Crypto and Dark Defender have significantly drawn attention to XRP, the cryptocurrency supported by Ripple Labs. Egrag Crypto shared their views on XRP’s current price movements on May 27, suggesting that the altcoin could potentially reach between $1.2 and $1.5 in the short term.
Egrag Crypto’s Bullish Expectation for XRP
Egrag Crypto’s analysis consists of a two-part article highlighting the ‘Real Awakening Line’ bullish trend in XRP’s chart. In the first part, they describe a pattern called the ‘White Triangle,’ aligned with Fibonacci levels 0.702 – 0.786, indicating a potential breakout. The analyst predicts that XRP could trade between $1.2 and $1.5, with a critical breakout point around $0.70 – $0.75. Egrag Crypto claimed that XRP is ready to break out in the coming weeks.
In the second part, Egrag Crypto noted that XRP is holding strong at the Atlas line, with resistance at $0.5777, support at $0.5000, and a breakout point at $0.6799. Despite warning that the breakout point could be retested in the short term, they maintained optimism about a “Mega Run” for XRP.
Dark Defender’s Optimistic Prediction
Similarly, Dark Defender shared optimistic views on XRP’s future movements. Using Heikin Ashi Candles and the Fisher Indicator in their analysis, the analyst emphasized that XRP is within ‘Major Wave 3.’
They identified the range between $0.6044 and $0.6649 as a challenging area but suggested that a weekly candle close above $0.6649 could lead to a significant breakout for XRP.
Despite the analysts’ optimistic analysis, it is noteworthy that XRP has not yet reached the $1 price target set for April. As of the latest data, XRP’s price has fallen by 1.26% in the last 24 hours to $0.5289, with a market cap of $29.31 billion and a 24-hour trading volume of $804.30 million.
