Cryptocurrency analyst Egrag Crypto revealed the bullish pattern that has recently formed in the market XRP price chart. The analyst also revealed how high the crypto token can go when it makes an upward move.

Inverted hammer forms on the map

Egra emphasized Inverted hammer which has formed XRP chart while noting how beneficial it was for the crypto token. He claimed that last month’s candle pattern showed a 75% inverted hammer at the bottom, which is “very bullish” for XRP. Egrag believes this is an “awesome sign” that the altcoin could soon rise to $0.75. He added that July will be a “month of fireworks” for XRP.

A possible raise in XRP to $0.75 is significant, as was the case with Egrag previously underlined this price level as “critical breaking point” for XRP. He then mentioned that XRP is “poised” to make this breakout in the coming weeks. He suggested that a break of XRP above this price level would send it to $1.50 and the cryptocurrency token could enjoy a further uptrend to $7.50.

CasiTrades cryptocurrency analyst also recently put forward a bullish narrative for the altcoin. She stated that the crypto token is maintaining its bullish momentum and is bouncing off the 0.382 retracement level. The analyst added that XRP has finally reversed the trendline that has been a resistance and support for months.

Meanwhile, CasiTrades has highlighted $0.54 as a price level to watch, stating that XRP may face resistance at this level. She suggested that the coin could enjoy a parabolic move if it breaks above this price level, noting that it is a “key level at which to watch for a potential breakout.” CasiTrades previously raised possibility of altcoin growth up to $80 after breaking out of the consolidation triangle.

XRP is on the verge of a parabolic rally

Mikybull Crypto cryptocurrency analyst recently suggested that XRP is on the verge of going parabolic. He stated in Post X that the token is currently at levels seen in 2017 and 2020, which in both cases triggered a “massive surge” in the cryptocurrency. In 2017, the altcoin saw a price raise of 61,000% in 280 days.

A chart shared by Mikybull Crypto showed that the altcoin could go as high as $5. Meanwhile, a cryptocurrency analyst XRP Captain claimed that the altcoin is ready for a “massive explosion.” He claimed that XRP is in the “mid-peak.” ” Jaydee Cryptocurrency Analyst also agreed with the XRP captain that a breakout is imminent, stating that “it’s coming”, even though he claimed that “beginners” would miss out on the race.

According to the data, at the time of writing, XRP is trading at around $0.52, showing an raise over the last 24 hours. data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com