A prominent analyst has recently revealed that Ripple (XRP), according to his analysis, is ranging since 300 days. EGRAG Crypto. According to the analyst’s SSMP model (Structural, MACRO, and Psychological), there are four stages which could lead XRP to hit the $1 threshold, a major milestone for cryptocurrency.
Ripple-Structural Form
The first phase of SSMP focuses on XRP’s structural development. EGRAG Crypto considers that the range between $0.53 and $0.58 is crucial to the cryptocurrency. In recent weeks, a solid base has formed within this range. This suggests a possible bullish move starting from $0.55 to $0.58.
Ripple’s (XRP) price could continue to rise in price if it manages to stay above the level of this price and create a strong foundation.
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Second stage: the sentiment level. EGRAG Crypto believes that the range of $0.63-$0.70 could be a sign of a possible sentiment change for XRP. This range, and its associated volume of trading could give investors valuable insights into how to take advantage of price opportunities while managing risk.
Strong volume and a breakout above the 0.70 level could signal a positive change in sentiment on the market, which may lead to future price increases for XRP.
XRP MACRO range
The third stage of SSMP model focuses primarily on the MACRO level. EGRAG Crypto considers the range of $0.75-$0.85 as crucial for XRP. If this price range is closed above on a regular basis, then it may signal the beginning of an important bull run.
A monthly close over this range will also mark the end to an era in which XRP was trading under the $1 price level. It would mark a major milestone in the history of the crypto and attract traders and investors to the market.
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This is where the final phase of the model takes place. EGRAG Crypto says that emotions like fear, greed and anxiety clash in the $0.93-$1 range. If XRP prices are consistently above $1, a monthly close over this range would mean that they will never again be below $0.93.
The psychological level of XRP is important, because breaking it would lead to a major shift in the market’s sentiment. This could pave the path for future price increases.
EGRAG Crypto’s SSMP provides a framework to analyze XRP’s price potential. Also, by outlining four crucial stages – structural formation, sentiment status, MACRO range, and psychological battlefield – the analyst has identified key price levels that could potentially lead to XRP hitting the $1 mark.
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Source: watcher.guru