XRP’s Chaos Near $1.33 Could Be the Start of a Much Bigger Move

EGRAG CRYPTO mapped out a historical pattern that could lead to a price surge well above $13. Ripple’s native token suffered in the past few weeks, dumping below $1.30 on Thursday for the first time in a while. Although it has recovered some ground, its weakness around the $1.33 line continues to look discouraging. However, popular analyst EGRAG CRYPTO argued that the choppy price action resembles previous long-term bottoming formations that could translate into a massive run toward the current ATH and well beyond. Is XRP Building Another Major Bottom? EGRAG has typically remained focused on XRP’s long-term perspective, and the latest analysis is no different. Looking at the token’s three-month chart, the analyst highlighted three previous bottoming formations that differed in shape but were all choppy, nonlinear, chaotic, and time-consuming. He believes the current structure around $1.33 is beginning to display similar characteristics, although he stressed that the bottom has not been confirmed yet. His argument is that investors should not expect major bottoms to form through a clean V-shaped reversal. Instead, extended periods of high volatility and repeated failed moves can exh...