Here Are Timelines for XRP to Claim $6 and $27 As Per Bifrost Bridge Analysis
A prominent market analyst presents timelines for XRP to claim new heights, leveraging pointers from his "Bifrost Bridge" analysis.The analysis comes on the back of XRP's recent positive performance. The asset surged 283% in November, marking its best monthly performance in seven years. December is continuing this momentum, with XRP gaining an additional 26.4% just 12 days into the month.Market analyst EGRAG has compared the ongoing rally with XRP's trajectory in the 2017 cycle. He suggests that this current price behavior mirrors patterns observed before XRP achieved its all-time high (ATH) of $3.31 in January 2018. Using his "Bifrost Bridge" analysis, EGRAG forecasts two potential price milestones for XRP: $6 and $27. Notably, he based these targets on Fibonacci retracement levels and historical price movements.XRP Could Target $6 and $27In his analysis, EGRAG highlighted XRP's early 2017 market moves. For context, in March 2017, XRP rallied 150% from a critical support zone, which the analyst calls the "purple foundation." Interestingly, this initial rally set the stage for a more extraordinary 1,330% gain in May 2017. EGRAG projects that XRP's ongoing uptrend could follow a similar trajectory. If the same percentage gains repeat, XRP may achieve new heights.In the current December monthly candle, the analyst believes aims for the "gold region," situated between $4.3 and $6.4. Data from the chart shows that these initial price targets align with Fibonacci retracement levels of 1.414 and 1.618.
Text source: The Crypto Basic
