Crypto Analyst Spots ‘W’ Pattern on XRP Daily Chart, Sets Target at $1.3

Renowned XRP supporter EGRAG CRYPTO has spotted a developing bullish pattern for the top altcoin. In a recent post on X (formerly Twitter), the foremost crypto analyst showed that a ‘W’ pattern is emerging on the XRP daily chart that could push the crypto’s price to higher levels.

According to the analyst, the emergence of a “Green ‘W’ Pattern” in XRP is catching attention, presenting both possibility and credibility. However, he noted that the completion of the second part of the ‘W’ Pattern may exhibit characteristics of either a steep or gradual rally, as indicated by the green and blue dotted patterns in his presentation.

EGRAG CRYPTO provided two bullish possibilities for his XRP price prediction, separating them into ‘Logarithmic’ and ‘Non-logarithmic’ measured moves. According to the analyst, the Logarithmic measured move has an initial target of $1.25. However, with substantive momentum, XRP could push higher, reaching a secondary target of $1.30.

The renowned analyst noted that if the latter become the case, XRP’s price targets would be lower. He projected an initial level of $1, which could extend to $1.10, depending on the XRP price momentum and other market-related factors.

EGRAG CRYPTO reaffirmed his unwavering confidence in the potential XRP rally, referencing his previous post from February 6. In the referenced post, he focused on the potential for significant growth in the long run. He highlighted that initial XRP drops are little blips that present opportunities for trading adopting the Dollar-Cost Averaging (DCA) strategy.

The analyst remained adamant about his bullish XRP prediction, proposing the possibility of a 15X, 27X, and 55X rally that could come later on. Meanwhile, XRP traded for $0.51928 at the time of writing, having recovered from the January 31 low of $0.48557, according to data from TradingView.