Bullish Candle Formation Suggests The XRP Price Could Touch $22
In an X post, Egrag Crypto predicted that candle 13 on the yearly chart could be the breakout candle that sends the XRP price to $13 or $22. He also raised the possibility of the altcoin surging above these price levels, with a wick extending even higher. Based on his analysis of Candle 9, the 2021 yearly candle, the analyst noted that Candle 13 points to a target of around $17.
Egrag Crypto remarked that this aligns perfectly between $13 and $22 for the $XRP price. He also commented on Candle 12, noting that it was the strongest Bullish Engulfing pattern. This engulfing process started from Candle 5 and continued through Candle 11. The analyst added that the body of these candles closed above all previous candles, which is a “classic bullish sign.” It is even more bullish when it occurs on a yearly or 12-month chart, as in this case.
Commenting on the current XRP price action, Egrag Crypto stated that the noise is still loud on the high timeframes. He noted that the body of Candle 13 is above $1.85, and the wick extends up to around $3.40. The analyst claimed that a close below $1.85 could mark the end of the bull run, while a close above $3.40 confirms that XRP is heading to double digits.
Interestingly, the crypto analyst declared that December 31 this year will be a date to remember in XRP history. He remarked that market participants will see where the XRP price stands and what kind of candle formations are shaping up for the legendary year.
