Rally

Candle

CRYPTO

Read

<ul> 
 <li>Renowned chartist spots a reliable inverted hammer pattern on XRP’s 2-month chart, forecasting a $5.5 rally.</li> 
 <li>XRP’s pattern hints at a possible reversal, mirroring past rally trends.</li> 
 <li>XRP’s bullish run aims for an all-time high, silencing skeptics.</li> 
</ul> 
<p><a href="https://twitter.com/egragcrypto?s=20">Famous chartist Egrag’s</a> new XRP prediction has excited the crypto community as he spotted an inverted hammer pattern on XRP’s 2-month chart, hinting at a possible 950% surge to reach an incredible $5.5.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a>: Anticipating Inverted Hammer Formation as 2-Month Candle Closes Tomorrow:<br><br>In just one day, the two-month candle for <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> is set to conclude its pattern, displaying the potential configuration of an inverted hammer formation.<br><br>Over the span of 426 days, <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> has remarkably… <a href="https://t.co/pgPHRAirdl">pic.twitter.com/pgPHRAirdl</a></p>— EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1696777945585525169?ref_src=twsrc%5Etfw">August 30, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This pattern holds substantial significance, having historically heralded significant price surges. The inverted hammer pattern, which involves a price drop followed by a recovery, signals a possible trend reversal. Egrag notes that this pattern previously triggered a rally in 2021, resulting in XRP’s price reclaiming the $1.9669 mark within four months.</p>    
<p>Drawing comparisons between the present and the past, Egrag predicts that history might repeat itself. As XRP forms another inverted hammer after a two-year gap, the analyst highlights the $0.80 mark as a critical macro resistance level to overcome.&nbsp;</p> 
<p>Egrag envisions an initial target of $2.3, which could be a launching pad for XRP’s trajectory to $3.3. However, the ultimate goal is an impressive $5.5, a threshold that Egrag has dubbed as the “Valhalla” of <a href="https://cryptonewsland.com/xrps-potential-to-jump-from-under-1-to-100/">XRP’s potential</a> price movements.</p> 
<p>At its current price of $0.5238, a surge to $5.5 would necessitate an astonishing 950% increase. If Egrag’s prediction proves accurate, this bullish rally would rewrite XRP’s recent history and silence the doubts and skepticism surrounding the cryptocurrency.&nbsp;</p> 
<p>As the market watches with bated breath, the inverted hammer pattern on XRP’s chart stands as a beacon of hope for investors and enthusiasts alike.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrp-holders-anticipate-inverted-hammer-formation-as-2-month-candle-nears-closure/">XRP Holders Anticipate Inverted Hammer Formation as 2-Month Candle Nears Closure</a></li>
 <li><a href="https://cryptonewsland.com/what-top-analyst-says-about-xrps-forthcoming-rally/">What Top Analyst Says About XRP’s Forthcoming Rally</a></li>
 <li><a href="https://cryptonewsland.com/historical-trends-point-to-xrps-impending-rally-are-you-ready/">Historical Trends Point to XRP’s Impending Rally, Are you Ready?</a></li>
 <li><a href="https://cryptonewsland.com/expert-forecasts-mind-blowing-28250-xrp-surge-to-144/">Expert Forecasts Mind-Blowing 28,250% XRP Surge to $144</a></li>
 <li><a href="https://cryptonewsland.com/xrp-price-prediction-35-76-by-july-30th/">XRP Price Prediction: $35.76 by July 30th, Analyst Expects Breakout from Triangular Pattern</a></li>
</ul> 
<p>The post <a rel="nofollow" href="https://cryptonewsland.com/xrp-predicted-to-skyrocket-by-nearly-1000-to-5-5-expert-identifies-bullish-signal/">XRP Predicted to Skyrocket by Nearly 1000% to $5.5: Expert Identifies Bullish Signal</a> appeared first on <a rel="nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

XRP Predicted to Skyrocket by Nearly 1000% to $5.5: Expert Identifies Bullish Signal

Crypto News Land

Other articles published on Aug 31, 2023

China Set for Digital Yuan Adoption Drive Ahead of Asian Games

Major Japanese Exchange to Support Shiba Inu on Polygon

Web3 Lawyer Predicts US Crypto Upturn After Key Industry Wins This Year

No, Bitcoin is not in its ‘longest ever bear market’ — Here's why

BUSD Holders Beware, Binance to End Support Soon

Gemini filed an opposition to Genesis’s bankruptcy plan

Join our free newsletter for daily crypto updates!