• 28 May, 2024
News

Analyst Predicts ‘Kaboom Cycle’ for XRP as Bullish Indicators Emerge

The digital currency sphere is abuzz as Ripple’s XRP garners bullish forecasts from market experts. EGRAG CRYPTO, a renowned crypto and market analyst on the X platform, suggest a significant upswing on the horizon for XRP’s market cap.

EGRAG CRYPTO has identified a key technical indicator in the two-week chart: the 21 EMA has crossed over the 55 MA, a bullish crossover that, in the past, has foreshadowed massive price surges. Historically, such crossovers have been the starting gun for what the analyst refers to as “Kaboom” phases.

The previous “Kaboom ‘A'” phase was a period of noteworthy gains, where the Fibonacci 0.5 level acted as a launchpad for price explosions. Today, EGRAG CRYPTO observed that XRP’s Market Cap is mirroring this pattern, suggesting a potential “Kaboom Cosmic Ignition” is at the doorstep.

Source: EGRAG CRYPTO

Adding to this optimistic outlook, crypto influencer XRP Bags has echoed a sentiment of inevitable growth, with a trillion-dollar market cap being “just the beginning” for XRP. Despite a previous parabolic rise of 100,000%, today’s increase is seen not just as achievable, but as a modest step towards an even more robust valuation for XRP.

The currency’s current price stands at $0.702372, with a 24-hour trading volume of $1,777,214,850.69, marking a 2.94% increase in the last day alone and a 15.56% uptick over the past week. With a circulating supply of 54 billion coins, XRP’s market cap is a formidable $37,596,679,149.

Per the analysts, the  XRP army is encouraged to maintain focus, as closing above the $51.3 billion mark, at the Fib 0.702 level, could signal a pivotal moment. The analysts’ perspectives, combined with a strong market performance, set the stage for what could be a transformative era for XRP.

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