Crypto expert Egrag Crypto highlighted XRP’s strong upward trend, analyzing the “Bifrost Bridge” in an X post on Thursday. This term describes a price level that XRP has not been below for 2,650 days. According to the analysis, XRP is in a strong upward trend.
#XRP Bifrost Bridge – 2,650 Days:
The chart below is based on a 3-Month Time Frame and what’s fascinating is that the Bifrost Bridge is STILL holding strong for #XRP! 💪 This high time frame adds major weight and significance to what we’re seeing here! 🔥
For nearly 2,650… pic.twitter.com/teMKCrX4uF
— EGRAG CRYPTO (@egragcrypto) September 19, 2024
XRP’s Strong Support
Egrag based his observations on a 3-month chart. He pointed out that XRP has not even come close to closing half of a candle body within this critical zone, even with market volatility. This is a clear indication of the strength of XRP’s price action. According to Egrag, this long-term support strengthens XRP’s bullish trend. This suggests that the asset has a strong construction on higher time frames.
Since its launch in April 2017, XRP has been on an upward trend. Markets are usually in a state of either trending or consolidation. According to Egrag, trends could be upward or downward, and in the case of XRP, it is on the upward trend. This is a very bullish sign for the digital asset. He considers this a rather unusual base for future development.
XRP’s Critical Price Level
Egrag emphasized on the importance of the $0.28 price level for XRP. Any short-term volatility does not matter as long as XRP is trading above this level. The analyst is positive about the current market situation. “As long as $0.28c isn’t broken, everything else is just noise,” he said, showing his confidence in the future of XRP.
Analyst Predicts Volatility for XRP Ahead of FED Decision
Egrag calls on the XRP community to remain calm and not lose sight of the bigger picture. He refers to the Bifrost Bridge as a “Teleportation to Valhalla,” which means he sees the current support level as a way to reach higher ground. As of press time, XRP is trading at $0.5846, showing a 2.35% rise over the past 24 hours.
Egrag’s bullish stance indicates that XRP may be preparing for further major swings. If the current trend continues, XRP may surge strongly in the coming months. His observations are positive and contribute to the overall positive sentiment about XRP and its future performance.
