In a recent development, a crypto analyst has provided hope to XRP holders as they predict that the token could see a major uptick in its price soon. However, they highlighted certain resistance levels that it must overcome for that to happen.
$0.55 A Critical Level For XRP’s Road To $1
In a post shared on their X (formerly Twitter) platform, Egrag noted that the XRP god candle was coming. While sharing an accompanying chart, which served as the basis for the projection, the analyst stated that the request for a price of $0.65 is still ongoing. In spite of that, they remain bullish on the token.
As to how the major uptick could play out, Egrag prefers that the token concludes its weekly candle above $0.55. If that happens, they believe it will also be “ideal” for the crypto token to revisit that support level in the following week, as that would be confirmation that “a rebound is imminent” and that XRP hitting $1 is likely to occur.
In an earlier post, the analyst had spoken about a potential rebound from XRP in support of their bullish sentiment. They also highlighted $0.65 and $0.55 as critical levels for the crypto’s upward trend.
According to Egrag, XRP breaking the resistance level at $0.65 will indicate a bullish trend. If that happens, they expect the token to retest the range between $0.55 and $0.58 before a rebound, which would see the token hit the
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Author: Scott Matherson
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