Crypto News– Over the past week, XRP has maintained a relatively stable position around $0.65, with its 24-hour trading volume averaging over $2 billion, although it has recently dipped below $1 billion. After achieving a remarkable 52% gain in less than three weeks, reaching $0.73 last week, XRP appears to be consolidating within its current price range.
XRP Poised for Growth: Expert Indicates Period of ‘Consolidation,’ Predicting a 122% Expansion to 1.4 Dollars
In light of XRP’s current trend, EGRAG, a respected market analyst, expresses confidence that XRP is gearing up for a significant surge beyond the psychological barrier of $1. In a recent tweet, EGRAG shared XRP’s price chart, highlighting the digital asset’s successful navigation through several crucial trading zones.
The identified trading zones on the chart, including “red flag,” “wicking,” and “ranging,” have been surpassed by XRP, according to the analyst. EGRAG suggests that XRP is currently in a consolidation zone, with the next phase anticipated to be bullish. Notably, this recent chart analysis builds upon a projection shared by the analyst two months ago. Back then, he forecasted that XRP would break out of the ranging zone around $0.4719 to reach a partially bullish region between $0.5738 and $0.74 by the end of the year.
Remarkably, these earlier predictions have come to fruition, as XRP traded above $0.7 on November 6. Consequently, EGRAG solidifies his bullish outlook by outlining a more expansive bullish zone for XRP in his latest chart analysis.