CandleFocus XRP 540 Days of Ranging to End in “Mega Pumps,” Top Analyst Declares
2024-09-10
Author: Content Editor
The cryptocurrency market is closely watching XRP as it has been in a prolonged consolidation phase for over 540 days, according to analyst Egrag. Egrag shared a chart showing XRP's price movements and identified a defined zone where it has been ranging between key support and resistance levels. This sideways price action could potentially be a precursor to a significant breakout, with bullish price targets set at $0.7399 and $0.9249, and the most ambitious outlook at $1.4694. Egrag urged XRP holders to be patient, as those who sold during the consolidation phase may miss out on potential gains. While other cryptocurrencies experienced explosive gains during this period, XRP failed to fully capitalize on the broader uptrend. However, consolidation phases can precede significant moves, and market participants building positions could lead to a breakout. XRP is currently trading at around $0.5324, and the sentiment among XRP supporters is that the downside risk is weakening.
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