- Optimistic Prediction Based on Fibonacci Channel
- Current Market State and Major Transactions
- Australia's Tax Office Acknowledges XRP
Well-known crypto analyst EGRAG CRYPTO predicts that XRP could reach $27 if it replicates half of its 2017 success.
Optimistic Prediction Based on Fibonacci Channel
In a tweet, analyst EGRAG CRYPTO made a bold statement that caught the attention of the XRP community. He predicted that if XRP sees half the rise it experienced in 2017, it may reach the 0.618 Fibonacci level, equating to $27. > The Fibonacci Channel is an amazing leading indicator! If XRP experiences half of its 2017 pump, it could reach the 0.618 Fibonacci level. This puts the target around $27! (EGRAG CRYPTO)
Current Market State and Major Transactions
Despite recent poor performance, several analysts, including EGRAG, remain optimistic about the next bull run. Currently, Ripple’s token is trading around $0.5649, down 1.69% over the last 24 hours. The token’s daily trading volume has exceeded $1.022 billion, while its market cap has dropped below $32 billion. Additionally, CNF reported a significant XRP transfer, with Whale Alert tracking the movement of 60 million tokens to Binance. Such large transactions often spark concerns among traders about potential sell-offs impacting short-term price movements.
Australia's Tax Office Acknowledges XRP
Recently, Australia's tax authority acknowledged XRP in a government report, which is viewed as a positive move for the cryptocurrency. This recognition from a key regulatory agency highlights XRP’s growing acceptance, potentially bolstering its long-term viability.
The optimistic predictions by EGRAG CRYPTO and the recent acknowledgment of XRP by Australia's tax office stir interest in the cryptocurrency. Upcoming market developments and price movements will be closely watched.
Comments