Analyst EGRAG CRYPTO has presented a new forecast for XRP, highlighting its current position outside the Gaussian Channel as a pivotal signal for a potential multi-fold rally.
XRP and the Gaussian Channel: Holding Above $1.75
EGRAG notes that XRP is currently trading above the upper boundary of the Gaussian Channel, set around $1.75. While this is a bullish signal, dipping back into the channel could threaten the current uptrend. "As long as we don’t close inside the Gaussian Channel on the weekly chart, we’re still in a bullish consolidation phase," EGRAG stated.
21-Week EMA: The Bull-Bear Battleground
The 21-week EMA plays a key role in identifying trend strength:
* Closing below it is bearish, although minor deviation is viewed as macro consolidation. * Full weekly candle closures above it, on the other hand, represent strong bullish momentum.
EGRAG highlights $2.33 as the immediate resistance, with a break above $2.65 serving as a confirmation of XRP’s next major bull phase.
Elliott Wave Analysis Projects $9–$10
Using standard Elliott Wave theory, the upcoming Wave 5 is expected to be explosive. According to EGRAG:
* Wave 5 typically reaches between 1.236 to 1.618 times the length of Wave 4. * An additional approach based on 61.8% of combined Wave 1 and 3 places XRP’s potential upside at 477%, translating to a target range of $9–$10.
EGRAG CRYPTO’s analysis depicts a high-stakes scenario for XRP. As long as key levels such as $1.75 and $2.65 are maintained, XRP may be on the verge of significant upward momentum.
