In a recent tweet, crypto analyst EGRAG CRYPTO hinted at an upcoming market movement for XRP, calling it the “3rd Kaboom.” This suggests a significant breakthrough in XRP’s market cap, potentially taking its price to new heights.
EGRAG CRYPTO is closely analyzing XRP’s monthly price movements, particularly its relationship with the 21 Exponential Moving Average (EMA). XRP’s price has been staying close to this average, resulting in relatively calm monthly candles.
The key event to watch for according to EGRAG CRYPTO is the “Kaboom” or “God Candle,” which often signals a shift in market sentiment and can strongly influence XRP’s price direction.
Looking back at previous “Kaboom” events on XRP’s monthly chart, significant milestones have been observed. The analyst now predicts a potential third “Kaboom” forming on XRP’s monthly chart, with a market cap currently at $28.25 billion. This could potentially propel XRP’s market cap to $2.61 trillion in the future.
On the hourly chart, XRP has formed a local support level around $0.49. If the daily closing price exceeds $0.5105, there is potential for a breakout above resistance, targeting the $0.53 zone. If the price remains above $0.53, bullish sentiment may strengthen, potentially driving XRP towards the $0.58-$0.62 range by week’s end. XRP is currently trading at $0.52 with a market cap of $28.49 billion.