Analyst Egrag Crypto shared a significant update on the XRP price against Bitcoin, highlighting the importance of certain technical levels for a potential major price movement.
Key Resistance Areas
Egrag Crypto emphasizes the importance of monitoring the 21 EMA and a specific price level within the 'Triangle' formation. According to his analysis, the first major hurdle is the 21 EMA. Closing above this level could boost confidence in a bounce from the MACRO Trendline Bottom.
XRP Price Scenarios Based on Historical Trends
In his February 2024 post, Egrag predicted that XRP/BTC might dip to the MACRO Trendline Bottom before any movement. He outlined various scenarios based on historical price patterns, where similar formations led to substantial pumps.
What Comes Next for XRP/BTC?
If this bullish scenario unfolds, Egrag refers to it as opening the 'Valhalla Gateway,' indicating a potential long-term upward trend. However, the analyst stresses the necessity of closely monitoring key levels before expecting any gains.
The XRP community, often referred to as the XRP Army, is encouraged by Egrag to remain patient and steady, as the current chart formation has accurately predicted past price pumps.
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