As Long as XRP Trades Above $2, Theres No Cause for Concern: Williams Alligator Indicator
Amid a largely bearish market, XRP continues to show bullish momentum signals, with the Williams Alligator Indicator providing key insights.XRP, which crossed the pivotal $2 mark early this month, has analysts closely monitoring its trend continuation potential. The asset has crashed by at least 30% since approaching $3 this month.In a post on X, analyst Egrag shared a detailed analysis, emphasizing the importance of the Williams Alligator Indicator for XRP's bull run. This tool uses three moving averages (Jaw, Teeth, and Lips) to identify market trends.According to Egrag, XRPs current alignment of these moving averages suggests bullish momentum, provided XRP maintains its position above the equilibrium zone without retracing.What the Charts RevealEgrag's chart highlighted two critical "Break of Structure" (BOS) points in XRPs long-term chart. The first instance occurred in the first week of 2018 when XRP broke its all-time high. A similar attempt happened in 2021, but it failed to send XRP to a new all-time high.Currently, a new break of structure is developing, with XRP trading above the equilibrium level of $2. The Williams Alligator Indicator shows alignment, suggesting a possible continuation of XRP's bullish trend. For context, a similar alignment appeared in late 2017, and by January 2018, XRP was trading at an all-time high of over $3.80.
Text source: The Crypto Basic
