In recent days, Ripple (XRP), the sixth-largest cryptocurrency by market capitalization, has been trying hard to reach the $1 mark again amidst legal hurdles in the unpredictable crypto market. Despite these obstacles, crypto expert EGRAG CRYPTO suggests a possible surge for XRP, outlining price targets of $1.4 and $4 by July 2024 if it passes four critical stages, while Bill Morgan challenges the market skeptics who say XRP is over.
Let’s step in to know more.
XRP’s Moonshot Momentum: Can It Really Hit $1?
Adding to the buzz, Bill Morgan, a well-known pro-XRP lawyer, believes that worries in the XRP community about Ripple’s actions are based on fear, uncertainty, and doubt (FUD). Some fear Ripple is selling too much XRP, which could lower its value. However, Morgan disagrees, saying Ripple’s actions are part of a plan to make XRP more useful.
Despite his efforts to clear up misunderstandings, misinformation about Ripple’s actions continues to spread. Morgan shared a video showing Ripple executives’ commitment to XRP to support his argument. Despite concerns, XRP’s market charts show positive momentum, supporting Morgan’s views.
Like never before, Morgan’s words had a great impact, causing XRP’s price to go up noticeably. This increase wasn’t just because investors felt good but also because it showed that Morgan’s ideas made sense. People started discussing XRP more, saying it could hit $1 soon.
Egrag’s XRP Price Insight: Fact or Fiction?
Furthermore, crypto expert Egrag Crypto also highlighted XRP’s price swings. Egrag explained XRP’s price trajectory in four key stages, providing useful insights into its performance.
The first step is to determine XRP support and resistance levels. Egrag noted a good base formation at $0.53 to $0.58, signaling a positive trend if XRP holds support above. In the second stage, he focused on the market mood around $0.63 to $0.70.
However, significant sentiment shifts within this area may indicate investor buying or selling opportunities. Third, the MACRO range of $0.75 to $0.85 is a key price hurdle for XRP. Weekly and monthly closes above this range might start a persistent bullish trend for XRP.
His final analysis step was the Psychology Battlefield. Depending on investor psychology, XRP’s price is between $0.93 and $1. Breaking psychological obstacles in this range could boost investor confidence and push XRP to new highs.
Despite recent market volatility, XRP gained 2.38% in 24 hours and 7.35% weekly. This bullish momentum boosted investor confidence, confirming XRP’s long-term upward trend.
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