Ripple’s XRP Enters Crucial DCA Range, Presenting a Massive Buying Opportunity

On Nov 19, 2023

XRP has entered a dollar cost average price zone, and according to one analyst, this is the time to buy the token as its potential upside is high.
XRP’s previously predicted support level of $0.66 proved weak as the coin tumbled, but the analyst says that $0.5 is “robust support” in the short term.

XRP is currently trading at $0.618 after marginal gains of 2.3% in the past day, but according to one analyst, this is the best time to purchase the fifth-largest cryptocurrency in the market.

The analyst, who goes by “EGRAG” on X, says that the crypto markets “move like waves” and it’s time for XRP.

“XRP is transforming the way value moves in this digital age. So, it’s crucial to understand what you hodl. I’m staying true to my beliefs, and if that’s not your vibe, it’s cool to step away from following me,” he posted on the social media platform.

Egrag acknowledged that he was wrong about how steady the support of $0.66 was.XRP breached this support five days ago and dipped to $0.59 before slightly recovering.

While the long-term predictions remain bullish, the analyst says that the crypto could face bearish moves in the short term. He attached a chart that shows a descending triangle pattern that breaks downwards that indicates a potential dip. However, even then, the analyst believes that the $0.5 support level is strong enough and wil hold.

The Yellow Zone or the wicking zone signals a near bearish territory. It’s crucial to lock in that 0.50c mark as our robust support. Trust me, XRP won’t dip below 0.50c—it’s a pivotal price point.

Egrag believes that the crypto will “make a move into the yellow zone and possibly consolidate” for a while.

“XRP ARMY STAY STEADY and Remember, belief and conviction are what test prophets across all religions. We’re no different,” says the analyst in his rallying call.

For analysts like Egrag, XRP isn’t just about the short term gains. They are led by a fundamental belief that the crypto will come good in the long term and will reward those who HODLed patiently.

“I’m not pursuing 300% or 500% gains in projects I lack conviction in. My focus is on generational wealth. Imagine understanding Gold will reach $2000, and having the chance to acquire it at 0.5c.

What Next for XRP?

The potential upside for XRP remains outsized. For one, with Ripple weighing an IPO, the token could skyrocket. As CNF reported, pre-IPO shares for the blockchain company now trade at $60 and this will surge as the IPO nears. Some analysts predict that it could be as soon as mid-next year.

Aside from the IPO, major global multinationals continue to be interested in the crypto. HSBC and Standard Chartered are building solutions either in partnership with Ripple or leveraging the XRP token. The latest entrants is JPMorgan which reportedly purchased over 7.5 million XRP and is holding it for the long term.

With the support of these multinations (even BlackRock is looking to get in), there’s every reason for XRP to overtake Ethereum and become only second to Bitcoin.

The best crypto exchange for beginners and professionals