The latest chart analysis by analyst Egrag suggests a potential bullish trend for XRP, as it has maintained a seven-year unbroken support level. The chart highlights $0.41 as a support floor and $0.75 as a potential resistance or breakout point. Egrag also identifies a blue channel called the "Bifrost Bridge" that has acted as a support area for XRP since early 2017. Despite being in a downtrend for the past seven years, XRP's recent price action on a monthly timeframe shows an upward trajectory. Commenters agreed that XRP's setup appears bullish, with Egrag suggesting a potential 10X to 20X gain in this cycle. XRP is currently trading at $0.5121, and Egrag encourages traders to view dips as buying opportunities.
- Content Editor ( thecryptobasic.com )
- 2024-11-05
XRP 7-Year Chart Reveals Unbroken Support, Bearish or Bullish Signal?