Crypto analyst Egrag has released a new XRP analysis revealing the cryptocurrency is heading into ‘uncharted territory.’ Egrag draws on historical data and key technical indicators to suggest that the cycle XRP is in currently is unusually difficult, having been filled with manipulation and community exhaustion.
Although it is difficult, he advocates for investors not to give up his hope. Egrag’s analysis focuses on two major technical tools: the 21 week Exponential Moving Average (EMA), and the 55 Simple Moving Average (MA).
XRP Market Momentum Indicators
Therefore, these same market momentum indicators are the things to look into while tracking XRP. Key to future price forecasting is their interactions, particularly when they cross. There are three crossings between these moving averages, the analyst finds, each implying a different market condition.
When the 21 week EMA falls under the 55 week MA, that’s a ‘bearish cross’ and bodes for downward momentum, whereas a ‘bullish cross’ i.e. when the 21 week EMA surpasses the 55 week MA, indicates upward momentum. An indecisive cross is a market indicator of uncertainty.
Finally, Egrag also breaks out the historical XRP cycles. In another cycle, Ripple had a bearish cross first, and two bullish crosses in 616 days. A sharp price surge followed a second bullish cross. Similar patterns in the current cycle may be setting the stage for explosive price movements of Ripple, Egrag explains.
