XRP Price Now Enters The DCA Buy Zone: Crypto Analyst
The XRP price has entered what is termed as the Dollar Cost Averaging (DCA) ranging zone, according to crypto analyst Egrag....
- The XRP price has entered the Dollar Cost Averaging (DCA) ranging zone, according to crypto analyst Egrag.
- Egrag maintains a bullish stance on the future trajectory of XRP.
- The previous support level at $0.66 proved to be weaker than anticipated, leading to a shift in the XRP price's movement into a ranging zone.
- Egrag highlights the importance of the $0.50 mark as a robust support and asserts that the price won't dip below it.
- The analyst's chart shows a descending triangle pattern breaking downwards, indicating potential bearishness in the short term.
- The zone between $0.5738 and $0.5119 is considered the "wicking" zone, where the price could swiftly dip.
- Fibonacci retracement levels suggest significant resistance and support zones for XRP.
- Egrag defends the long-term vision for XRP despite criticism from a user comparing its price performance to other cryptocurrencies.
- XRP is currently trading at $0.6118.
The sentiment of the article is mostly positive, with the analyst maintaining a bullish stance on XRP's future trajectory and defending its long-term vision.