Crypto analyst Egrag Crypto has been continuously bullish on the way forward for the XRP value and the newest prediction proves this. This time round, the crypto analyst is utilizing a uncommon Bent Fork Pattern to again up his prediction that the XRP value is headed for double-digits.
The Rare Bent Fork Pattern
Egrag first talked about the Bent Fork Pattern in a June submit whereas exhibiting a bullish roadmap for the XRP value. In the sooner post, the analyst factors out ‘four distinct tracks’. These embrace the “Track A) Major Historical Support, Track B) Ranging Zone, Track C) Mid-Cycle Top, and Track D) Cycle Top.”
As Egrag defined, the Track D is the cycle high which might see the altcoin’s price attain as excessive as $15, though not with out incidence. Despite anticipating a surge, Egrag says that XRP could fall lower earlier than this occurs. However, the analyst asks traders to not fret when this occurs. Rather, they need to see it as a chance to purchase the cryptocurrency for decrease costs.
Now, 4 months after the preliminary submit was made, Egrag has revisited this Bent Fork Pattern, doubling down on the earlier prediction. In a submit made on Wednesday, October 18, Egrag up to date the earlier prediction, exhibiting what must occur for the XRP value to achieve the lofty value of $15. This would imply at the least a 3,000% value improve for XRP if the sample performs out precisely as anticipated.
In the chart under, the analyst explains that the XRP value must breach the white line for the rally to start. “the real excitement is if #XRP shatters the ‘White’ Ascending Triangle – get ready for some market-shaking action,” the analyst mentioned.
Bent Fork Pattern factors to bullish restoration | Source: X
Looking at a time-frame, the crypto analyst asks traders to maintain an eye fixed out for the third and 4th week of November as that is when one thing attention-grabbing may occur. “Feeling uncertain about your next move? This might just be your last chance to seize a buying opportunity,” Egrag mentioned in closing.
Not The Only Bullish Chart For XRP Price
Interestingly, Egrag’s XRP value prediction utilizing the Bent Fork Pattern additionally matches their different predictions for the altcoin. Earlier within the week, Egrag had also put forward another forecast however used the Elliot Wave Theory to current the bull case.
As Egrag notes, the fifth wave is the place the principle motion actually lies the place the analyst expects the price surge to happen. Just like with the Bent Fork Pattern, it additionally suggests a double-digit value stage on the high. However, the wave concept takes it a step additional with a $27 value mark in comparison with the Bent Fork’s $15 mark.
Another similarity between each predictions is that the June Bent Fork chart exhibits the XRP value at $15 someplace between 2025 and 2026. This is identical timeframe offered utilizing the Elliot Wave analysis, so most of this can doubtless play out within the bull market.
XRP steadies above $0.48 | Source: XRPUSD on Tradingview.com
Featured picture from Bitcoin News, chart from Tradingview.com
