Crypto analyst EGRAG CRYPTO has reaffirmed his previous analysis of XRP’s price movement by reposting a key chart and commentary originally shared on September 1, 2023. In a recent tweet, he wrote: “XRP Three Triangles – #Reposting: The Conviction is still the same”. This statement reflects his unwavering belief in XRP’s long-term potential despite market fluctuations.
The reposted chart highlights technical analysis of XRP based on three historical triangle patterns. Each pattern has consistently signaled significant price movements, suggesting that XRP may be nearing a substantial upward surge.
EGRAG presents these points:
* **Three Triangles:** The analyst identified three distinct triangular formations – the Blue Triangle, Green Triangle, and the current White Triangle. Each triangle pattern preceded noteworthy price fluctuations with breakout structures signifying bullish strength in both cases.
* **White Triangle:** XRP currently resides within what EGRAG refers to as the White Triangle. This formation shows signs of breaking upwards, suggesting a potential bullish trend.
* **$33 Target:** The chart illustrates a minimum target price of $33, based on historical patterns that indicate significant price increases follow similar triangle formations. This target is derived by comparing the current pattern with past movements, demonstrating the analyst’s confidence in XRP’s growth trajectory.
* **Further Growth Potential:** EGRAG also outlines a more ambitious projection – if XRP follows a similar fractal pattern as seen previously and achieves a 2068% price increase (the same level of percentage growth), then the price could theoretically reach around $693. However, this is not presented as a concrete forecast but rather illustrates the potential for