Crypto
XRP Analyst Predicts $50 Price Target Based on Rare Technical Pattern
Egrag Crypto, an XRP chart analyst, has identified a rare technical pattern in the token's monthly chart that may signal a move similar to its 2016 breakout.
The pattern involves three consecutive green monthly candles during an accumulation zone, which XRP is currently experiencing. In 2016, the token went through this same sequence while still consolidating near its lows.
If September closes green, it would complete this rare formation and keep a potential path to $50 on the table for further observation. This level corresponds to an increase of approximately 5,006.70% from XRP's current price.