XRP May Be on the Verge of Emulating a Key Historical Pattern

input: XRP may be on the verge of emulating a key historical pattern, which could lead to its price surge. The trend comes amid the rising institutional interest and adoption of the token.

Technical analyst Egrag Crypto observed on X that XRP may be nearing a key historical pattern.

According to him, the trend comes amid the rising institutional interest and adoption of the token. It is also reinforced by the increasing value of Bitcoin (BTC) as well as critical developments in cryptocurrency regulations and macroeconomic events.

According to the pseudonymous Egrag Crypto, a popular technical analyst on X, the price movements of XRP are in sync with the same sequence in 2017, which led to its all-time high of $3.84 in January 2018. However, the numbers could go further north from here by 1,772%.

At XRP’s price between $2.29 and $2.45 in the last 24 hours, the analyst’s prediction translates to an astronomical surge above $40 per token.

According to him, if the values continue to cruise within the present Fibonacci circle, the fourth-largest crypto asset by market cap could reach that target in around two months.

The analyst laid out several conditions that would increase the odds of XRP price hitting that target.

Staying above the $2.30 line in the 21-week exponential moving average (EMA) is the key to keeping the bullish momentum.

Meanwhile, investors should watch out for a potential close above the Fib. 1.414 level at $2.70 because it serves as a confirmation that the market indeed is within an upward trajectory.

According to him, if the Fib. 1.618 level at $3.18 is breached, then it marks a strong case for setting new all-time highs.

However, he said that traders must be cautious in this critical juncture. He recommended that they lock in their profits along the way due to the nature of the market.

According to him, if the price breaches the Fib. 1.414 level at $2.70, it will be a strong indication that the market is in an uptrend.

If the Fib. 1.618 level at $3.18 is breached, it will make a compelling case for setting new all-time highs.

According to him, if the price drops below the 21-week EMA at around $2.30, it will increase the likelihood of a deeper correction.

According to him, traders should take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price manages to stay above the 21-week EMA and close above the Fib 1.414 at $2.70, it will be a good indication that the market is in an uptrend.

According to him, if the Fib 1.618 level at $3.18 is breached, it will make a strong case for setting new all-time highs.

According to him, traders must be cautious in this critical juncture and take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price drops below the 21-week EMA at around $2.30, it will increase the likelihood of a deeper correction.

According to him, traders should take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price manages to stay above the 21-week EMA and close above the Fib 1.414 at $2.70, it will be a good indication that the market is in an uptrend.

According to him, if the Fib 1.618 level at $3.18 is breached, it will make a strong case for setting new all-time highs.

According to him, traders must be cautious in this critical juncture and take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price drops below the 21-week EMA at around $2.30, it will increase the likelihood of a deeper correction.

According to him, traders should take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price manages to stay above the 21-week EMA and close above the Fib 1.414 at $2.70, it will be a good indication that the market is in an uptrend.

According to him, if the Fib 1.618 level at $3.18 is breached, it will make a strong case for setting new all-time highs.

According to him, traders must be cautious in this critical juncture and take some profits along the way due to the volatility of the crypto market.

According to him, if the XRP price drops below the 21-week EMA at around $2.30, it will increase