Analyst EGRAG CRYPTO provides a structured view of XRP's price behavior, suggesting an upcoming significant breakout. The focus is on multi-layered patterns that may predict future price fluctuations.
Structural Price Analysis of XRP
XRP analysis is based on multi-year macro patterns using RGB arcs that track historical resistance and support levels. This approach allows for insights not only based on short-term fluctuations but also on the asset's past performance, particularly the parabolic rise in 2017-2018.
Consolidation Phase Coming to an End
The technical framework proposed by EGRAG identifies a triangular consolidation pattern forming at a key support level, aligned with the lower green arc. The analyst noted that previously it took only 6 candles before the final leg launched, and XRP is now at the 7-candle mark. This indicates a potential transition to a high-volatility movement referred to as the 'KABOOM Phase.'
Projected Targets and Timeline
The three arcs highlighted on the chart are: the lowest (red) represents foundational support, the middle (green) reflects prior breakout levels, and the upper arc (blue) projects higher targets based on previous cycles. Growth is expected to begin on July 1, with a peak price target range between $22 and $38.
The analysis indicates that XRP may be on the verge of a significant breakout following a consolidation phase, creating an opportunity for volatile price movement in the coming months.
