Crypto analyst EGRAG Crypto has shared his outlook on the potential price growth of XRP, which is based on multi-year technical structures.
Technical Patterns Signal Renewed Momentum
EGRAG Crypto suggests that XRP is on track for significant price growth based on a two-week chart showcasing an upward formation since 2018. After a sharp decline to $0.10 in 2020, XRP has shown gradual strength and stabilized around the $3 level. He notes that XRP broke a descending resistance line in late 2024, signaling the start of a longer-term bullish trend.
Trading Guidance: Prioritize Flexibility Over Precision
EGRAG advocates for a Dollar Sell Average (DSA) strategy, which involves selling portions of holdings incrementally to manage risk. He emphasizes that consistently predicting market peaks is unrealistic, and many investors miss profitable exits due to inflated expectations.
Defined Profit-Taking Zones
To aid investors, EGRAG outlines three profit-taking zones: the first from $4 to $6, the second from $11 to $13, and the final zone from $27 to $30. These ranges are based on Fibonacci retracement levels and Elliott Wave theory and may serve as indicators for active traders.
While EGRAG's outlook for XRP is optimistic, he reminds traders of the importance of flexibility in trading and adherence to technical analysis.
