3 possible scenarios for Ripple, where XRP dominance reaches a high degree of the record
The famous cryptocurrency analyst has identified three potential scenarios for XRP price movement as digital assets show a great power in the market. The analysis comes at a time when the dominance of XRP is close to the levels of registration, which may indicate a major shift in the cryptocurrency scene.
Egrag Crypto It shows that the “blue canal” style provides clear indicators on the next step for XRP. The analyst notes that the balance was created on the lower edge of this channel, which led to a previously predicted small.
In the short term, EGRAG determines three distinctive scenarios that can be revealed:
Optimistic expectations
In the upscale scenario, XRP needs to close above $ 2.83 today to show macro strength. Achieving this level can open the path towards a target of $ 4.20.
The analyst suggests that these goals may rise over time, which enhances the bulls issue.
Conservative approach
The second scenario shows a more measure. EGRAG notes the possibility of re -testing XRP to the previous daily depression (PDL), which corresponds to the level of Fibonacci 0.888 – an area of strong support. A sustainable break without this level for three days or more may indicate continuous declining control.
However, if the support continues, investors must monitor many major levels: the previous daily of $ 2.40, the previous weekly number at $ 2.97, and the previous monthly height at $ 3.07. According to the analyst, the high closure prices would provide increased structural confidence.
Also read: XRP PRICE FLAMES signal as the lawyer has a major update on Ripple VS SEC case
Pozed scenario
In the case of Hubudian, a lower break from the Fibonacci 0.888 and PDL level can lead to a decrease towards the Fibonacci 0.786 level and may fill the fair value gap. Interestingly, EGRAG indicates that this can actually be a bear trap and the wrong fracture of the blue canal, and may coincide with Bitcoin re -testing the level of $ 70,000.
An analyst believes that such a development can provide “another opportunity to buy generations.” However, sustainable rest periods may indicate below these levels to the unrecognized bear market that affects the entire encryption space.
The dominance of XRP shows a great power
Egrag Crypto It also highlights The growing market dominance of XRPWhich is close to the increase of 2021 of 6 % and the Fibonacci level exceeds 0.5. This analyst is a “critical level” and a very upscale sign that has been confirmed once.
If the XRP dominance is successfully closed above the Fibonacci 0.5 level, it may follow the level of Fibonacci 0.888, which may reach 15-20 % of the dominance of the market. This would match the historical levels of 2015.
The analyst emphasizes that this is not just speculation, noting that the XRP position as a leading protocol to transfer value online with the dominance of 31 % “is nothing but the beginning” of a possible growth path.
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