đĽ Inverted Hammer Appears On The XRP Price Chart, Crypto Analyst Picks First Target Of $0.75
Crypto analyst Egrag Crypto has revealed a bullish pattern that recently formed on the XRP price chart. The analyst also revealed how high the crypto token could rise once it makes this move to the upside.
đ¸ Inverted Hammer Forms On The Chart
Egrag highlighted an Inverted hammer that had formed on XRPâs chart while noting how bullish this was for the crypto token. He claimed that last monthâs candle formation showed a 75% Inverted Hammer at the bottom, which is âsuper bullishâ for XRP. Egrag believes this is an âamazing signâ that the altcoin could rise to $0.75 soon enough. He added that July will be a âmonth of fireworksâ for XRP.
đ¸ XRPâs possible rise to $0.75 is significant, as Egrag
had previously highlighted that price level as a âcritical breakout pointâ for XRP. Back then, he mentioned that XRP was âpoisedâ to achieve this breakout in the coming weeks. He suggested an XRP breakout above that price level would send it to $1.5, and the crypto token could enjoy a further upward trend to $7.5.
Crypto analyst CasiTrades also recently provided a bullish narrative for the altcoin. She stated that the crypto token is maintaining its bullish momentum and bouncing off the 0.382 retracement level. The analyst added that XRP has finally flipped a trendline that had acted as resistance for months to support.
Meanwhile, CasiTrades highlighted $0.54 as a price level to keep an eye on, stating that XRP could encounter resistance at that level. She suggested that the coin could enjoy a parabolic move if it breaks out above that price level, remarking that it is a âcrucial level to watch for a potential breakthrough.âCasiTrades previously raised the possibility of the altcoin rising to as high as $80 when it breaks out from a consolidation triangle.
