The price of XRP has not yet started a significant upward trend, but analysts like EGRAG Crypto remain bullish. Known for his optimistic outlook on XRP, EGRAG believes its long period under the $1 mark might end soon.
In a detailed analysis on X, EGRAG noted that XRP could advance to $7.50 if it breaks a critical resistance trendline. His technical analysis, based on XRP/TetherUS charts dating back to June 2019, reveals two triangular price patterns, one inside the other, suggesting significant price compression.
The price is currently compressed within these triangles, trading around $0.60. EGRAG identified the upper trendline of these triangles as a crucial resistance point called the 'Genuine Wake-Up Line.'
EGRAG emphasizes that a weekly close above $0.64 could test this Wake-Up Line, prompting a rally toward $1.5 initially, and potentially $7.50, targeting the 1.618 Fibonacci level.
As of now, XRP trades at $0.60. Reaching $1.5 requires a 150% increase, while hitting $7.5 needs an 1,150% surge.
