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The latest update from the crypto market analyst Egrag crypto has garnered noteworthy attention towards XRP, the Ripple Labs-backed <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a>. Dated today, May 27, the post shared on X facilitated vital insights into XRP’s current price movements, suggesting that the token could top $1.2 ahead.
Another renowned crypto market analyst, Dark Defender, has shared optimistic insights into XRP’s future price movements. These comments, collectively, have sparked a significant buzz across the broader crypto market as analysts maintain their positive outlook on the Ripple-backed token’s future despite its recent sluggish performance. Let’s delve deeper into the analysts’ remarks, which have ignited a storm of speculations.
<h2 id="egrag-crypto-says-xrp-to-trade-between-1-2-1-5">Egrag Crypto Says XRP To Trade Between $1.2-$1.5</h2>
Egrag Crypto took a two-section post to X, unraveling the ‘Genuine Wake-up line’ bullish trend on XRP’s chart. Notably, the first section (Break-out) highlights a pattern known as the ‘White Triangle’ and its alignment with previous charts and Fibonacci levels 0.702 – 0.786, hinting towards a potential breakout. “The measured move is projected to be between $1.2 – $1.5,” Egrag added.
The critical break-out point is around $0.70 – $0.75, and the analyst stresses that XRP remains poised to break out in the coming couple of weeks.
Meanwhile, the second section highlighted that XRP is holding like a ‘boss’ on the Atlas line, with resistance at $0.5777, support at $0.5000, and a break-out point at $0.6799. Although Egrag warns of a retest of the break-out in the short term, XRP remains poised for a “Mega Run” ahead, the analyst stated.
<img decoding="async" class="aligncenter wp-image-198979" src="https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag.png" alt="XRP Price Egrag" width="593" height="232" srcset="https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag.png 1477w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag-300x117.png 300w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag-1224x478.png 1224w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag-768x300.png 768w, https://coingape.com/wp-content/uploads/2024/05/XRP-Price-Egrag-150x59.png 150w" sizes="(max-width: 593px) 100vw, 593px">
<h2 id="dark-defender-pours-optimism-into-future-movements">Dark Defender Pours Optimism Into Future Movements</h2>
Additionally, Dark Defender, in a post on X, stresses the Ripple-backed token being in its ‘Grand Wave 3.’ The analyst draws attention to Heikin Ashi Candles, a trading analysis tool often used in combination with the Fisher Indicator, highlighting price movements on the weekly time frame.
XRP to encounter a challenging zone between $0.6044 and $0.6649, Dark Defender proclaims. However, once the weekly candle closes above $0.6649, the Ripple-backed token remains poised for colossal gains.
<img decoding="async" class="aligncenter wp-image-198980" src="https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price.png" alt="Dark Defender XRP price" width="576" height="342" srcset="https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price.png 1461w, https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price-300x178.png 300w, https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price-1224x727.png 1224w, https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price-768x456.png 768w, https://coingape.com/wp-content/uploads/2024/05/Dark-Defender-XRP-price-150x89.png 150w" sizes="(max-width: 576px) 100vw, 576px">
Contrary to the analysts’ current remarks, it’s worth noting that a $1 price target was set for April, but <a href="https://coingape.com/xrp-1-april-analyst-upholds-forecast-despite-market-corrections/" rel="noopener noreferrer nofollow">XRP</a> has yet to achieve it.
Also Read: <a href="https://coingape.com/trending/can-ton-price-recover-soon-or-a-bigger-fall-is-inevitable/" target="_blank" rel="noopener noreferrer nofollow">Can TON Price Recover Soon Or A Bigger Fall Is Inevitable?</a>
<h2 id="xrp-price-tumbles">XRP Price Tumbles</h2>
Meanwhile, <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP’s price</a> was noted to dip by 1.26% to $0.5289 as of writing. The token’s market cap rested at $29.31 billion, whereas the 24-hour trading volume was $804.30 million. Its 24-hour lows and highs are $0.5238 and $0.5366, respectively.
Recent market statistics spotlighted by CoinGape further paint an uncertain picture of the token’s future. RSI, along with other market statistics, underscores mixed investor sentiments orbiting the <a href="https://coingape.com/xrp-price-whale-moves-32m-coins-judge-torres-decision-looms-what-next/" target="_blank" rel="noopener noreferrer nofollow">Ripple labs-backed digital asset</a>.
Also Read: <a href="https://coingape.com/xrp-news-lawyer-dismisses-impact-ripple-lawsuit-escrow-burn-xrp-price/" target="_blank" rel="noopener noreferrer nofollow">XRP News: Lawyer Dismisses Impact Of Ripple Lawsuit &amp; Escrow Burn On XRP Price</a>
The post <a href="https://coingape.com/xrp-to-top-1-2-ahead-analyst-claims-despite-sluggish-price-action/" rel="noopener noreferrer nofollow">XRP To Top $1.2 Ahead: Analyst Claims Despite Sluggish Price Action</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP To Top $1.2 Ahead: Analyst Claims Despite Sluggish Price Action

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