Top Chartist Identifies XRP Entry Point, Touts it as “Last Opportunity”

Prominent crypto chartist EGRAG recently identified an XRP entry point on the daily timeframe, noting that this could be the “last opportunity” to procure the token at the current rates.

In his analysis, EGRAG presented two possible scenarios for XRP’s future trajectory, both leaning toward bullish outcomes. In addition, each of the two possible trajectories features an initial dip in XRP price, one drop steeper than the other.

The first trajectory, represented with a blue line, is poised to come sooner than the second. According to EGRAG, this path would see XRP decline to the $0.5811 support level. The current price of $0.6254 would translate to a 7% drop.

However, the analyst’s forecast suggests that XRP would eventually stage an impressive recovery from this drop, rallying above the current price levels. EGRAG believes this rally would help XRP conquer the $0.7545 resistance at Fib. 0.5, leading to an upsurge above the late July highs at $0.85.

In the second trajectory, represented with a yellow line, the analyst asserted that XRP would witness a more substantial price drop. This path would bring XRP down to the late October lows of $0.5483, representing a 12.3% decline from XRP’s current price. 

While the second direction would result in a steeper decline for XRP and a more elongated period of bearish performance, this path promises greater price surges. The analyst’s chart presents the possibility of a rally to the highs recorded in the July 13 ruling.

XRP Entry Point

Despite the more substantial rally specific to the yellow path, EGRAG noted that he believes the blue path is more likely to play out.

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However, the analyst stressed that XRP could still drop to the $0.55 price region. He identified this as a potential entry point, noting that it could represent the last opportunity to purchase XRP at these low levels.

EGRAG’s optimism in XRP was bolstered in a separate analysis. Notably, he called attention to an observable uptrend XRP has recorded since January. He criticized those who could not spot the uptrend, which, he believes, is an indicator of a potential price explosion.

Meanwhile, XRP is trading flat in the short term, currently changing hands at $0.6254. Trading volume for the token has surged 6.5% to $1,424,894,466. This metric indicates a renewal of investor interest in XRP as the altcoin market registers a bullish resurgence.