XRP Price Prediction: Rare Bent Fork Pattern Predicts Explosive 3000% Surge To $15
October 19 2023 - 4:00PM
NEWSBTC
Crypto analyst Egrag Crypto has been continuously bullish on the
future of the XRP price and the latest prediction proves this. This
time around, the crypto analyst is using a rare Bent Fork Pattern
to back up his prediction that the XRP price is headed for
double-digits. The Rare Bent Fork Pattern Egrag first mentioned the
Bent Fork Pattern in a June post while showing a bullish roadmap
for the XRP price. In the earlier post, the analyst points out
‘four distinct tracks’. These include the “Track A) Major
Historical Support, Track B) Ranging Zone, Track C) Mid-Cycle Top,
and Track D) Cycle Top.” Related Reading: Analyst Predicts XRP
Price To Hit $100: Here’s How To Become A Millionaire As Egrag
explained, the Track D is the cycle top which could see the
altcoin’s price reach as high as $15, although not without
incidence. Despite expecting a surge, Egrag says that XRP could
fall lower before this happens. However, the analyst asks investors
not to fret when this happens. Rather, they should see it as an
opportunity to buy the cryptocurrency for lower prices. Now, four
months after the initial post was made, Egrag has revisited this
Bent Fork Pattern, doubling down on the previous prediction. In a
post made on Wednesday, October 18, Egrag updated the previous
prediction, showing what needs to happen for the XRP price to reach
the lofty price of $15. This would mean at least a 3,000% price
increase for XRP if the pattern plays out exactly as expected. In
the chart below, the analyst explains that the XRP price needs to
breach the white line for the rally to begin. “the real excitement
is if #XRP shatters the ‘White’ Ascending Triangle – get ready for
some market-shaking action,” the analyst said. Bent Fork Pattern
points to bullish recovery | Source: X Looking at a time frame, the
crypto analyst asks investors to keep an eye out for the 3rd and
4th week of November as this is when something interesting might
happen. “Feeling uncertain about your next move? This might just be
your last chance to seize a buying opportunity,” Egrag said in
closing. Not The Only Bullish Chart For XRP Price Interestingly,
Egrag’s XRP price prediction using the Bent Fork Pattern also
matches their other predictions for the altcoin. Earlier in the
week, Egrag had also put forward another forecast but used the
Elliot Wave Theory to present the bull case. Related Reading:
Ripple Job Posting Sparks IPO Rumors, Will XRP Price Finally Cross
$100? As Egrag notes, the fifth wave is where the main movement
really lies where the analyst expects the price surge to happen.
Just like with the Bent Fork Pattern, it also suggests a
double-digit price level at the top. However, the wave theory takes
it a step further with a $27 price mark compared to the Bent Fork’s
$15 mark. Another similarity between both predictions is that the
June Bent Fork chart shows the XRP price at $15 somewhere between
2025 and 2026. This is the same timeframe presented using the
Elliot Wave analysis, so most of this will likely play out in the
bull market. XRP steadies above $0.48 | Source: XRPUSD on
Tradingview.com Featured image from Bitcoin News, chart from
Tradingview.com
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