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- EGRAG Crypto forecasts XRP’s next cycle top for September 9, 2024.
- His analysis covered the timeframes of previous cycles.
- EGRAG advises market readiness, noting that deviation from expected patterns by the target date would signal a change in trend.
Popular crypto expert EGRAG Crypto, known for his XRP analysis, shared a forecast regarding XRP’s “Super Guppy Cycle Top” in September 2024. EGRAG’s analysis compared the current cycle to past patterns, offering projections and potential insights into XRP’s trajectory over the coming months. For clarity, the Super Guppy indicator is a group of exponential moving averages (EMA) that indicate changes in price action.
EGRAG’s analysis covered timeframes of previous cycles, highlighting Cycle 1’s peak occurrence after 287 days and Cycle 2’s after 133 days. Furthermore, he drew parallels to Cycle 3, which began with the Super Guppy turning green in November 2023. As such, the XRP analyst suggested a potential cycle top in approximately 112 days, following Cycle 1’s pattern.
Meanwhile, EGRAG Crypto pointed readers to his previous tweet from May 5th, titled “This Time is Different,” which focused on the behavior of the 21 EMA and 55 MA on a 2-weekly timeframe.
“I recommend revisiting the post from May 5th titled “This Time is Different,” where the 21 EMA and 55 MA on the 2-weekly timeframe suggest the potential cycle top might occur in September 2024,” he said.
EGRAG’s comparison indicated that while the duration from the bullish cross has surpassed Cycle B’s timeframe, it remains within Cycle A’s range. Accordingly, September 9th, 2024, emerged as a potential date for the next cycle top if historical patterns repeat.
To conclude his analysis, EGRAG called for readiness among XRP enthusiasts and market participants. He suggested that if September 9th passes without XRP reaching an all-time high or experiencing significant upward movement, it will deviate from historical patterns.
“STAY READY! If we pass the 9th of September and #XRP has not reached an ATH or experienced a major pump, then I can confidently say, “This Time is Different.” EGRAG stated via X.
On the current market front, XRP trades at $0.5052 during press time, reflecting a 0.21% intraday increase.
The post XRP Analyst Forecasts the Next Cycle Top for September 2024 appeared first on Coin Edition.