Analysts Predict XRP ‘Mega Pump’ And ‘Perpetual Cycle’ – Details
11 Septiembre 2024 - 2:00PM
NEWSBTC
Crypto analysts have XRP under the lens, as the altcoin has been
consolidating for over 500 days. Well-known XRP figure Edward
Farina recently predicted that the coin will be on a “perpetual
cycle.” Farina had this to say during the Istanbul Blockchain Week,
with many believing XRP will enter into its biggest bull cycle
despite the currently unstable market conditions. He has called on
investors to enjoy the current situation while prices are low.
Related Reading: Major Bitcoin Addresses See 5% Holding Boost –
What’s Driving The Accumulation? Another crypto analyst, Egrag,
shares his technical examination of XRP’s price movement in support
of Farina’s optimism: The token’s recent resurgence within a key
support and resistance levels, particularly $0.3931, signifies a
very robust support zone. This particular movement of XRP has
consolidated for over one and half years, which he thinks could be
considered the accumulation that must be formed prior to a massive
breakout. Egrag’s chart reveals that the bullish targets could be
located at $0.739, $0.924, and may even be as high as $1.469. #XRP
540 Days Ranging Since March 13th, 2024! 🔥 If you’re getting shaken
by these tiny moves, you don’t deserve the MASSIVE MEGA PUMPS that
are coming!#XRPArmy STAY STEADY pic.twitter.com/ErNrvkO4F3 — EGRAG
CRYPTO (@egragcrypto) September 7, 2024 ‘Mega Pump’ On The Horizon?
From Egrag’s analysis, holders of XRP are about to get what he
terms a “Mega Pump.” While he maintains that those who held onto
their tokens during this quiet phase may be rewarded in big
proportions, he put forth a contrary belief that individuals who
sold their XRP don’t deserve the massive mega pumps ahead. While
XRP remains in this range, other cryptocurrencies climb. Bitcoin
peaked in June 2024; Binance Coin peaked this year in April 2024.
Even meme currencies like Shiba Inu and FLOKI soared, although
given the volatility of the crypto market these were not sustained
for long. Despite the laggard performance, however, some long-term
investors of XRP are pretty confident that the long accumulation
phase will be followed by a breakout. ‘Perpetual Cycle’ Incoming?
Farina’s strategy is dollar-cost averaging: a practice wherein
investors gradually buy an asset, particularly when it’s down from
the peak. He said it was an excellent candidate for long-term
accumulation since XRP remains 80% below its $3.84 record price
back in 2018. $XRP won’t experience a bull run, it will be a
perpetual cycle. In a few years, we’ll look back at today’s prices,
it will feel absolutely unbelievable. EAK TV interview at
@IstanbulBlockWk #IBW2024 pic.twitter.com/wS30CFTAHI — EDO FARINA 🅧
XRP (@edward_farina) September 8, 2024 Further, he noted that this
may put investors in a position to reap extraordinary gains once
the market eventually reverses upward. Farina is not in a vacuum
with his optimism. Other analysts have mirrored his view, saying
XRP could go up as much as $50, or even up to $100, in the
not-so-distant future. Related Reading: BNB Weekly Active Addresses
Surge Over 6% – Is A Rally On The Way? Will XRP Break Out? XRP is
still affordable, trading around $0.527 at the time of writing.
CoinMarketCap observers are bullish, with 73% predicting a token
recovery soon. As varied as the market outlook was, many investors
have followed Farina’s advice to accumulate XRP while prices remain
low, hoping the token surges in the long run. Whether or not the
“mega pump” occurs, the extended consolidation phase for XRP could
be a preparatory move for something big. Featured image from Toyota
of North Charlotte, chart from TradingView
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