Top Trader Claims XRP Below $1 is a Life-changing Opportunity

XRP has continued to trade below $1 since December 2021.

XRP’s recent campaign to reclaim the $1 price point has faced stern opposition from the bears since the asset broke above $0.58 on March 29. However, a prominent crypto trader has asserted that XRP’s position below $1 remains a life-changing opportunity for investors.

Egrag made this assertion today while analyzing XRP’s price movements amid the bearishness observed within the broader market.

#XRP Time To Pulverize ‘Final Wake UP Line’ (FWUL):

When the @LuxAlgo signals a ‘Buy’ signal & not a Strong Green ‘Buy’ signal then the possibilities of cooling off might be there. Retesting the Fib 0.382
(0.40c) is still in the cards.

However, the Weekly Stoch-RSI… pic.twitter.com/Re7sdbbYlS

— EGRAG CRYPTO (@egragcrypto) April 19, 2023

The analyst leveraged signals from Luxalgo, a leading trading platform, in his latest analysis. Egrag pointed out a buy signal presented by Luxalgo for XRP at its current value. However, he noted that if the signal is “buy” and not “strong buy,” then the possibility of falling from the current price exists.

Particularly, Egrag asserted that XRP could drop to retest the Fibonacci point at 0.382 which is stationed at a price of $0.40. He further noted that the Stochastic Relative Strength Index (Stoch-RSI) is flashing bearish signals, which could mean that XRP could trade within a range for a while.

According to Egrag, this scenario is not certain and such cases would need the Relative Strength Index (RSI) indicator for a clearer picture. Taking signals from the RSI, Egrag asserted that XRP could potentially gain momentum to see it capture the $0.60 price point as it breaks above the “Final Wake Up Line.”

– Advertisement –

However, the veteran analyst acknowledged that the asset could drop back to the Final Wake Up Line after surging above it. Notably, dropping back to the line after surging above it would confirm that the line is the new support zone. Egrag believes this would be the best-case scenario.

XRP Seeks to Reclaim $0.50

Crypto trader Nuke Capital shares this same sentiment as Egrag. He made a call to action for investors to overcome their fear of purchasing XRP. According to him, this fear would only support XRP’s rise back up. He noted that exit dumps are similar to exit pumps but in reverse, as they could bolster the asset’s next uptrend.

Adapt… your fear of buying
will make us rise faster now.. $XRP exit dumps are the same
As exit pumps. pic.twitter.com/o8M3qrpaBE

— NukeCapital (@NukeCapital) April 19, 2023

XRP is trading for $0.4995, seeking to reclaim $0.50 after being displaced by the bears today. The asset plummeted to Egrag’s “strong support box” between $0.48 and $0.46. However, the bulls aged a fierce comeback that saw XRP rise above the box. The asset is currently down 5.88% today, shedding off some of the gains picked up in previous days.

#XRP Flipping Zone (UPDATE):

The Strong Support Box (SSB) was defended by the #Bulls like there is not tomorrow. The wick was absorbed by thirsty #Bulls.

That’s why T.A. is the art of probabilities and possibilities.

Going to the low end of the SSB is still considered… https://t.co/LdcZMLnREi pic.twitter.com/fkyTj3r77w

— EGRAG CRYPTO (@egragcrypto) April 19, 2023

Egrag noted that a drop to the bottom of the box ($0.46) would not be surprising. However, he would be concerned if the asset started closing on multiple occasions below the support box. It is important to note that these are mere analyses of the asset’s price actions, and should not serve as investment advice.

– Advertisement –