bullish

CRYPTO

Resistance

EGRAG CRYPTO (@egragcrypto), a prominent cryptocurrency analyst, recently <a href="https://x.com/egragcrypto/status/1863843156795486536?t=xuveSjvgNV_yTK0l0f32lg&amp;s=19" rel="noopener noreferrer nofollow">shared</a> an insightful chart on XRP’s price trajectory, presenting two potential future price targets: $17 and $27. XRP gained traction, especially after reaching $2.86, its highest level since 2018. The technical analysis suggests significant opportunities ahead.
<h2 id="strong-chart-analysis-and-observations-strong">Chart Analysis and Observations</h2>
The chart highlights XRP’s performance within a multi-year ascending trend line, which has served as a strong support framework since 2018. This long-term bullish trend underpins the cryptocurrency’s resilience and positions XRP for potential exponential growth.
The pattern identified in the chart is an ascending triangle, a classic technical formation associated with bullish breakouts. This triangle is characterized by a horizontal resistance level and an upward-sloping support line. According to the chart, XRP has decisively broken out of this structure, signaling a strong upward trend continuation.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> – $17 or $27? – You Decide
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> The answer is in the chart! Take a close look and decide – which one do YOU think is more plausible? $17 or $27?<a href="https://twitter.com/hashtag/XRPFamily?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPFamily</a>: STAY STEADY &amp; STRONG <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4aa.png" alt="💪" class="wp-smiley" style="height: 1em; max-height: 1em;">. We could face a major pullback ahead, but don’t let the FUD shake you. These pullbacks are… <a href="https://t.co/26EzkDjETk" rel="noopener noreferrer nofollow">pic.twitter.com/26EzkDjETk</a>
 — EGRAG CRYPTO (@egragcrypto) <a href="https://twitter.com/egragcrypto/status/1863843156795486536?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-key-levels-to-look-out-for-strong">Key Levels to Look Out For</h2>
Support at $1.22 (0.702 Fibonacci Level): This level, marked on the chart, represents a critical accumulation area. It is expected to act as a strong support level in the event of a pullback.
Intermediate Resistance at $9.12 (1.272 Fibonacci Level): This resistance may slow XRP’s ascent before it attempts higher targets. However, this is below the final targets, suggesting that EGRAG CRYPTO is confident that the digital asset will surpass it.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are on twitter, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1680250907504656385?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 15, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Major Targets—$17 and $27: These targets are derived from Fibonacci extensions and historical patterns. The $17 level is close to the 1.414 Fibonacci extension, while $27 is close to the 1.618 extension, a key extension level often signifying the cycle peak. Notably, the analyst has previously <a href="https://timestabloid.com/top-chartist-sets-17-to-27-xrp-price-target-based-on-ascending-triangle/" rel="noopener noreferrer nofollow">predicted a rise to these targets</a> through a similar ascending triangle.
The chart also emphasizes caution, warning of potential pullbacks before XRP reaches these lofty targets. As noted by EGRAG CRYPTO, pullbacks should be viewed as opportunities to accumulate rather than as deterrents to long-term positioning.
<h2 id="strong-how-to-maximize-returns-from-this-cycle-strong">How to Maximize Returns from this Cycle</h2>
Egrag’s analysis highlights the importance of discipline during volatile phases. He advised investors to employ approaches like Dollar Sell Averaging (DSA) and to consider securing profits by withdrawing initial capital once comfortable levels are reached. These steps can mitigate risks while capitalizing on upward momentum.
XRP is currently trading at $2.55, and although it has dropped over 6% from yesterday, it is up almost 80% from last week. The asset’s renewed attention from <a href="https://timestabloid.com/a-very-large-order-of-2-1-million-xrp-just-executed-on-binance/" rel="noopener noreferrer nofollow">institutional investors</a> has been a significant driver of its recent surge.
As regulatory clarity improves and adoption increases, XRP’s utility in the financial ecosystem could further enhance its appeal, supporting the long-term bullish thesis outlined in the chart.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on <a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow">Telegram</a>, and <a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow">Google News</a>
The post <a href="https://timestabloid.com/analyst-displays-ascending-triangle-that-could-send-xrp-to-17-and-27/" rel="noopener noreferrer nofollow">Analyst Displays Ascending Triangle That Could Send XRP to $17 and $27</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

Analyst Displays Ascending Triangle That Could Send XRP to $17 and $27

Table of Contents

Times Tabloid

Other articles published on Dec 5, 2024

Why Qubetics, Polkadot, and Bittensor TAO Are the Best Altcoins To Join for Innovation and Long-T...

German Government Loses $2.4 Billion by Selling 50,000 Bitcoin at $54K

Ethereum Price Today: Altcoin Nears $4000 Amid Bitcoin’s $100k Hype

History: Bitcoin Reaches $100,000 For The First Time

Shiba Inu's Shibarium Hits All-Time High in Major Metric After 851% Surge

Doge Christmas (DOGECHRIS) Memecoin Will Explode 15,000% Before Exchange Listings, While Shiba In...

Join our free newsletter for daily crypto updates!