Analyst EGRAG’s prediction on XRP’s price surge, based on the megaphone pattern, highlights the potential for the token to reach $27. Despite market volatility, XRP shows resilience with a notable price increase.
Understanding the XRP Megaphone Pattern
The analysis focuses on the expanding megaphone pattern on XRP's one-month chart. This pattern is marked by higher highs and lows, indicating bulls are in control. EGRAG noted the structure's 70% win ratio on longer timeframes.
XRP Historical Price Movements and Current Rebound
EGRAG reviews past XRP price movements to underscore the megaphone pattern’s significance. The first bottoming phase occurred in September 2014 at $0.00058, followed by a rise to $0.0306 by December 2014. By January 2018, XRP reached its all-time high at $3.5—marking the second major upswing.
Price Targets and Market Expectations
EGRAG's latest analysis suggests the third upswing includes targets of $8.15, $13.3, and $27.05 based on Fibonacci levels. Traders should monitor price action and volume indicators to confirm the megaphone pattern.
The analysis points to potential significant XRP growth due to the megaphone pattern. Traders should monitor the asset’s price movements and trading volumes to confirm the trend.
