Analyst EGRAG Crypto presents an optimistic outlook for XRP, highlighting recurring patterns on the yearly chart that support the potential for significant asset growth.
Historical Candle Patterns and Their Significance
EGRAG’s analysis is based on a recurring bullish engulfing candle observed on XRP’s yearly chart. This figure consists of a small bearish candle followed by a larger bullish candle that entirely eclipses the previous one, signaling a possible trend reversal to the upside.
Forecast for 2025 and Price Levels
EGRAG refers to the current year as 'Candle 13', suggesting that if an increase similar to 2021 occurs, XRP could potentially reach $17. In addition to the patterns, he observes three ascending trend lines on the long-term XRP chart, including potential resistance levels at $13 and $22.
Short-Term Fluctuations and Their Impact
Despite the long-term optimism, EGRAG warns about short-term fluctuations, noting that the range between $1.85 and $3.4 is considered 'market noise'. A close below $1.85 would invalidate the current bullish setup.
The analysis indicates that XRP could return to growth due to historical patterns, but current fluctuations should not mislead investors regarding long-term prospects.
