Analyst Egrag highlights the formation of new bullish signals on XRP charts, which may indicate significant changes in its price.
Current Trends in XRP Market
Egrag focuses on the formation of five consecutive bullish candles on the two-month chart, describing this parabolic structure as unique for XRP, potentially indicating the start of significant growth. Should the price dip below $2, those accumulating tokens at these levels might be seen as 'early whales', similar to Bitcoin buyers who entered at low prices.
Egrag's Investment Strategy
Citing his 'buy low, sell high' philosophy, Egrag recommends traders treat short-term positions as secondary. He suggests using no more than 10–20% of a portfolio for swing trades, while the focus should remain on long-term positioning, where greater growth opportunities lie. He mentioned advising to accumulate XRP below $1 despite criticism.
Key Levels and Expectations
From a technical point of view, the key threshold to watch is $3.70. Egrag notes that a solid close of a two-month candle above this level could serve as a launchpad for a new growth phase for the asset. While XRP continues to face considerable scrutiny from market participants and regulators, interest in its long-term potential remains high.
The current analysis of the XRP market highlights the importance of a careful approach to trading and asset accumulation, as the upcoming months may prove critical in determining the token’s future.
