Crypto Analyst Says XRP Price Is Headed For $27 As 2017 Pattern Emerges
Popular crypto analyst EGRAG CRYPTO, known for his very bullish stance on XRP, has predicted that the XRP price is headed for $27 as a pattern from 2017 emerges again.
The analyst made this prediction known in a recent post on social media to reflect that XRP is now mimicking a historical cross between the 20 and 50 Simple Moving Averages.
Interestingly, with XRP currently trading at $0.6079 amidst a lull market gain, EGRAG’s prediction represents a surge of over 4,300% from the current price levels. Analyst Points To Similarities Between 2017 And Current Market Conditions A detailed look into EGRAG’s technical analysis points to a cross between the 20 SMA and 50 SMA, with the former crossing above the latter.
Interestingly, this cross dates 50 bars on the weekly candlestick time frame, around 350 days ago.
Now, he pointed out that this scenario has only happened twice throughout XRP’s history with two different outcomes, and XRP could now go on the path of either outcome or it could play out something new in the coming days.
Related Reading: Shiba Inu Sees A Shift: Short Term Holders Take Possession Of 23 Trillion SHIB #XRP 🚀 Is This Similar to 2017, or Are We Witnessing Something New? The historical data reveals two crosses between the Yellow Line (20 SMA) and Blue Line (50 SMA).
A) If this resembles Cycle ‘A’, then we could expect a rapid and aggressive price surge, akin to a rocket…