Crypto analyst Egrag Crypto has once again provided a bullish narrative for the XRP price, outlining two potential scenarios that could lead to a breakout for the crypto token, potentially sending it as high as $7.5. This comes as XRP’s Relative Strength Index (RSI) has reached its lowest ever, indicating a potential buying opportunity for investors.
Egrag Crypto shared a chart on X that showed XRP could rise to $7.5 in a breakout that he claims is imminent. He highlighted a “White Triangle” breakout on the chart, aligning perfectly with previous charts and Fib levels. The measured move is projected to be between $1.2 and $1.5 before XRP could climb to $7.5, with a critical breakout point around $0.70 and $0.75.
While XRP could still experience declines before the breakout, Egrag is confident that a “MEGA RUN for XRP is on the horizon.” He also highlighted an ‘Atlas Line’ on the XRP chart, with a breakout point at $0.6799, suggesting XRP is holding strong and poised for a breakout.
XRP’s RSI is currently at its lowest ever, at 38 on the monthly time frame, which Egrag sees as a bullish signal for the crypto token. Low RSI levels are considered a buy signal, indicating that XRP is oversold and undervalued, potentially triggering a move to the upside for the coin.
At the time of writing, XRP is trading at around $0.52, up almost 1% in the last 24 hours. Investors are advised to monitor key price levels at $0.5777 and $0.5000 as resistance and support levels for XRP’s upward trend. With the potential for a breakout looming, XRP holders may be in for an exciting ride in the coming weeks.
