A popular cryptocurrency analyst recently urged his followers on microblogging platform specific, depending on your projection of the cryptocurrency. will increase to $22.
According to a post on X by cryptocurrency analyst EGRAG Crypto shared with his more than 45,000 followers on the microblogging platform, the analyst predicts that the price of
The symmetrical triangle pattern formed in 2017, and the cryptocurrency's price has seen a series of higher and lower prices, suggesting a possible bull run if XRP breaks the pattern with an upward movement.
EGRAG suggests two possible future paths for XRP, illustrated by green and blue lines on its chart, indicating that the cryptocurrency's next move could follow a drop from the $0.59 mark in early 2024 or continue its upward trajectory.
According to the analysis, if XRP maintains its upward momentum until early 2024, it is expected to take the blue path, aiming for a high of $6.41. Conversely, a drop early in the year could put it on track for a notable recovery, leading to a potential high of $22.
Notably, Large holders of XRP tokens have been accumulating. the native token of the XRP Ledger to the point that they now control 67.2% of the cryptocurrency's circulating supply, the most since December 31, 2022.
Another analyst has recently pointed out that XRP is "breaking" in this 3-year consolidation pattern,โ in a price drop that came shortly after Ripple president Chris Larsen confirmed that more than $120 million in cryptocurrencies were taken from "some" of his personal XRP accounts.
Notably, XRP Ledger also recently approved the launch of an automated market maker (AMM) trading platform built into the ledger. allow $XRP token holders to earn on-chain income.
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