Crypto trader EGRAG CRYPTO has made a bold $17 price prediction for Ripple (XRP). The forecast, shared through an updated “Bent Fork Chart” analysis, outlines key resistance levels and potential milestones for XRP’s price movement. EGRAG CRYPTO’s analysis highlights a crucial barrier and suggests that breaching the all-time high could unlock gains.
XRP Price Forecast
The analysis outlines several key milestones for XRP’s price movement. Egrag identifies $1 as a key resistance level, describing it as both a structural barrier and a psychological hurdle.
Additionally, the ATH of $3.5 is highlighted as a key threshold that, if breached, could lead to substantial gains. The trader’s updated chart includes several noteworthy predictions. EGRAG CRYPTO notes that XRP has touched the 0.40c level as previously forecast.
#XRP : The Bent Fork ($17 & Historical Support) – UPDATE: June 2023: We introduced "The Bent Fork Chart." Here's the latest scoop: New Top Target: $17 Key Resistance: $1 – both a structural barrier and psychological hurdle. All-Time High (ATH): $3.5 – breaking… https://t.co/CAdFw956Ej pic.twitter.com/H8IQ03tCYu
— EGRAG CRYPTO (@egragcrypto) July 8, 2024
The next critical point is 0.75c, which the analyst considers a “gatekeeper” for potential upward momentum. A convincing close above this level could set the stage for a push towards the all-time high.
EGRAG CRYPTO emphasizes the importance of the $1 mark, reiterating its significance as both a structural and psychological barrier. The analysis also points to an equilibrium point around $1.8.
However, the most striking aspect of the prediction is the major target of $17, which represents a substantial increase from current levels.
In a show of conviction, EGRAG CRYPTO shared a personal strategy with followers. The trader aims to capitalize on pumps in other crypto assets, intending to rotate profits into XRP. This approach shows the analyst’s confidence in XRP’s potential in the long run.
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XRP Price Action
At the time of the writing, XRP trades at $0.4353, a 2.15% price rise over the last day. This modest gain aligns with the broader crypto market’s recent performance.
The crypto community’s response to EGRAG CRYPTO’s prediction has been mixed. Some enthusiasts view the $17 target as overly optimistic, while others see it as a possibility in a volatile market. Skeptics point to regulatory challenges and market competition as potential hurdles for such price appreciation.
XRP’s Potential Integration with European Central Bank
In other related news, another figure in the XRP community, EDO FARINA, shared insights about Ripple’s potential role in the development of the Digital Euro.
After meeting up with Michael Barr (former @Ripple) Christine Lagarde described #Ripple as a business model that “inspires confidence.”With Digital Euro on the horizon, @ecb already integrated the $XRP Ledger on their payment system TIPS.The Digital Euro could run on $XRP pic.twitter.com/JWHgTcesdp
— EDO FARINA 🅧 XRP (@edward_farina) July 8, 2024
FARINA highlighted a meeting between Christine Lagarde and Michael Barr, a former Ripple executive. According to FARINA, Lagarde described Ripple’s business model as one that “inspires confidence.”
The post also claimed that the European Central Bank has integrated the XRP Ledger into their payment system, TIPS. This integration has led to speculation about the possibility of the Digital Euro running on the XRP network.
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