Crypto analyst EGRAG CRYPTO forecasts a 'mega bullish wave' for XRP based on a technical analysis, gaining community attention.
Preliminary Analysis
In his post on platform X, EGRAG CRYPTO noted that the ongoing bullish pennant breakout could signal a significant increase in XRP dominance. According to his analysis, if XRP breaks the 5.75% threshold, dominance might increase by 21% to 275%.
Growth Prospects for XRP
To support his expectations, EGRAG employed a Fibonacci table and Visible Range Volume Profile (VRVP) data. He estimated that increasing dominance could push XRP's market cap from $320 billion to $2.154 trillion if 21.54% dominance is achieved within a market cap range of $4 trillion to $10 trillion.
Community Opinions and Skeptics
The response from the XRP community to EGRAG's forecast has been positive, with many users expressing optimism. However, among skeptics, such as Reddit participants, warnings are voiced that Fibonacci levels can yield false signals in volatile market conditions.
XRP's next step hinges on breaking above 5.75%. Success in this regard could significantly redefine altcoin dynamics in the market.
