Home CryptocurrencyAnalysis Expert Charts 1,400% Course to $7.5 for XRP Price as RSI Falls to All-Time Low

Expert Charts 1,400% Course to $7.5 for XRP Price as RSI Falls to All-Time Low

by SuperiorInvest

Crypto Analyst Egrag Crypto has provided another bullish narrative for XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, which could send it as high as $7.5. This comes with the recent revelation that XRP Relative Strength Index (RSI) has reached its lowest level ever recorded.

It's time for an XRP price breakout

Egrag Crypto shared a chart on an X (formerly Twitter) mail which showed that the crypto token could rise to $7.5 when it achieves the escapewhich according to the crypto analyst is imminent. Egrag He highlighted a “White Triangle” breakout on the chart, which he said “aligns perfectly” with previous charts and the 0.702 to 0.786 Fib levels.

Source: X

He added that the measured move is projected to be between $1.2 and $1.5 before XRP can take off and rise to $7.5. Egrag further commented that “critical breaking point” for XRP is around $0.70 and $0.7'5 and that the crypto token is “poised” to achieve this breakout in the “coming weeks.”

Egrag warned that XRP could still see significant declines before then, stating that a new test of the breakout could be on the cards. However, he is convinced that “MEGA RACE for XRP is on the horizon.”

Meanwhile, for the second scenario of how XRP could achieve its imminent breakout, Egrag Crypto highlighted an 'Atlas Line' on the XRP chart and claimed that the breakout point for XRP is at $0.6799. He noted that

Meanwhile, $0.5777 and $0.5000 are key price levels that XRP Holders must monitor. Egrag labels them as resistance and support levels for the XRP uptrend along this atlas line.

XRP 2 Price
Source: X

XRP hits its lowest RSI ever

Egrag revealed in a latest x publication that XRP RSI It is at its lowest level ever seen. He pointed out that this claim was based on monthly time period and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRPstating, “If this isn't a positive sign, I don't know what is.”

XRP 3 Price
Source: X

The chart he shared showed that the relative strength index of XRP is at 38, which is indeed bullish for the crypto token. Low RSI Levels are considered a buy signal as they suggest that the currency is oversold and undervalued. Cryptocurrency investors could therefore be looking to accumulate XRP, and these buy orders are expected to trigger a bullish move for the crypto token.

At the time of writing, XRP is trading at around $0.52, up almost 1% in the last 24 hours, according to data from CoinMarketCap.

XRP price chart from Tradingview.com
XRP price suffers a drop | Source: XRUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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