2024-5-17 23:00 |
A crypto analyst identified as ‘Egrag Crypto’ has recently taken to X (formerly Twitter) to issue a warning to XRP investors regarding a potential bear market that could trigger a massive correction for the price of XRP.
XRP Holders Prepare For More Declines In 2025According to Egrag Crypto, XRP is expected to enter a steep bear market stage in 2025. The analyst based his predictions on a technical analysis tool he called the “Gaussian Channel,” revealing three distinct technical phases for XRP, including a Green A, Green B and Green C phase.
He noted that the bearish phase in Green A had already been completed. However, the Green B phase is expected to end by June 2025, and Green C is anticipated to conclude by January 2025. The analyst further emphasized that the aforementioned dates do not represent cycle tops but indicate the beginning of a “deep bear market phase.”
He also revealed that the Gaussian Channel was a technical analysis tool used to visualize price movements of cryptocurrencies around a mean average price. The purpose of the tool is to help identify volatility, risks, and certain support and resistance levels. Additionally, analyzing the historical trends and durations of the green phases provided by the Gaussian Channel provides valuable insights that can be used to interpret future price movements.
Presently, the price of XRP has remained relatively unchanged for the past few months, primarily consolidating around the $0.5 mark without witnessing any significant momentum. This lackluster performance can be attributed to the ongoing legal challenges the cryptocurrency has faced with the United States Securities and Exchange Commission (SEC) over the past four years.
While Egrag crypto anticipates more bearish sentiment for XRP in the coming year, the crypto analyst also suggests that the next 3 to 12 months could present critical trading opportunities as the market evolves. He cautions XRP holders to remain vigilant and prepared for potential market volatility, which could lead to a “life-changing window.”
Analyst Highlights XRP’s ResilienceIn a previous X post, Egrag Crypto maintained an optimistic outlook for the price of XRP. He emphasized the cryptocurrency’s strength and resilience, noting that XRP was indicating strong bullish signals in its price fundamentals.
He revealed that if XRP can maintain a critical position within the “Launching Channel,” a trading pattern identified by partial wicking candles and ascending consolidation, the cryptocurrency could see its value potentially surging to $6.4.
At the time of writing, the price of XRP is trading at $0.51, reflecting an increase of 3.51%, over the past 24 hours, according to CoinMarketCap.
Egrag Crypto has advised the broader XRP community to remain “calm and steady,” as the next three to six months could present significant opportunities for investors.
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