XRP might be currently trading around half a dollar, but both its fundamentals and technical analyses suggest that a surge of epic proportions is brewing under the covers. One such is the “Super Guppy” indicator, which projects a notable rally to many price points leading up to $99.
This bullish signal on social media platform X (formerly Twitter) by renowned crypto analyst EGRAG CRYPTO, who emphasized that the Super Guppy’s history of predicting price jumps might soon repeat itself. Given its past accuracy in signaling major market movements, the current setup has positioned XRP for what the analyst refers to as a “Mega Pump,” suggesting that the cryptocurrency is about to experience a rally of epic proportions.
Explaining The ‘Super Guppy’ Bullish XRP Signal
The Super Guppy is a less popular indicator that uses multiple exponential moving averages to highlight trends and anticipate a potential breakout in an asset’s price. EGRAG’s recent use of this unique indicator comes as an update to an interesting analysis that dates back to October 2022.
In his latest assessment, EGRAG employed the XRP/USD price chart on a 5-day candlestick timeframe, using the Super Guppy to map out historical patterns of bear and bull markets.
Specifically, the Super Guppy shows a recurring sequence: significant bearish downturns, marked in red, followed by impressive bullish surges, represented in green. This cycle of downturns and rallies is a critical signal for potential breakout phases in XRP’s price trajectory.
According to EGRAG’s chart, the first notable bearish trend occurred between 2015 and 2016, which eventually gave way to a strong bull cycle in 2017, culminating in XRP reaching its current all-time high in 2018. The Super Guppy Indicator also showed a repetition of these trends between 2019 and 2022.
Next Phase: Bullish Move To The Upside
Now, it seems the Super Guppy indicator is showing that another bearish phase has been completed with the recent XRP price action in the crypto industry. As such, the next phase is a bullish run to the upside. In terms of a price prediction, EGRAG, who is known for his bullish stance on XRP, noted three price targets.
The first target is set at $3.37, which closely aligns with XRP’s current all-time high. Reaching this level would require a 470% increase from the current price. The second target is more ambitious at $13.69, representing a bigger 2,220% increase from the current price. However, the most eye-catching prediction is EGRAG’s third price target of $99.24, that would mark an extraordinary 16,748% surge from XRP’s present price.
At the time of writing, XRP is trading at $0.5887 and is up by 2.16% in the past 24 hours.
Featured image from Fortune, chart from TradingView