XRP has rebounded compared to the $ 3 support level and is now negotiated about $ 3.20. However, the popular crypto merchant Egrag Crypto has spotted a rare graphic model that does not often appear, but when it does, it generally leads to huge price jumps. In the past, this signal has led to gains at least 40,000%.
Now Egrag believes that if history is repeated, XRP could be on the way for a price between $ 9 and $ 24.
History is repeated? Here’s why it’s important
After last week’s decline, XRP fell to the $ 3.00 bar, a price level that acted as a safety net. But he didn’t stay there for a long time. The token has rebounded and is now mounted slowly, exchanging nearly $ 3.20, giving early signs that buyers intervene again.
With hindsight, XRP saw its first major crossover in March 2017, followed by a rally of 40,000% of the eyes before the cycle peak. The next crossover occurred in August 2020, pushing XRP to almost 750% at the time.
Now, Egrag underlines that in October 2024, the 21 EMA has again crossed the 55 SMA, and since then, XRP has already pumped 560%. Although this wave may seem large, history suggests that it could be the beginning.
What is the height of XRP?
Egrag not only spotted a model, he also looked at how XRP reacted in the past when this same configuration appeared. In 2017, XRP saw a huge rally after this crossover. Now Egrag says that even if XRP repeats only 10% of this old rally, the price could still fall by 4,000%, pushing it above the $ 9 bar.
But this is not the only possibility. If XRP only works twice as well as in 2020, which experienced a gain of 750%, we could always see a movement of 1,500%, taking the price almost $ 24.
The graphics shared by Egrag also correspond to this idea. XRP is currently traveling to an increasing channel, very similar to its past rupture configurations.
XRP price analysis
Currently, XRP is negotiating about $ 3.19, showing a small rebound after last week’s decline. Based on the 4 -hour price table, XRP can go back on the 21 EMA (exponential mobile average), which often acts as a short -term support area.
This decision suggests that buyers could take place after a brief sale. The relative resistance index (RSI) is now at 47.89, in the middle, suggesting that the market is not exaggerated or exceeded, and there is still room for XRP.
If the price can remain stable above the key level of $ 3.00, it could give the bulls more confidence to push stronger
