Image by WorldSpectrum from Pixabay

XRP has failed to match its rivals in hitting new heights in this year’s bull rally, and according to one analyst, its aggressive bullish opportunity is winding up.

Known to his 51,000 followers on X as Egrag, the analyst applied the Gaussian Channel indicator to project the price pattern of the market’s seventh largest crypto, going as far back as 2014 to identify the patterns that have defined XRP’s rise to one of the mainstay crypto projects.

The Gaussian Channel, in Egrag’s words, is “a crucial tool to analyze price movements. It visualizes price fluctuations around a mean, indicating volatility levels.”

“The width of the channel is indicative of volatility, aiding in assessing risk. It also helps in identifying support & resistance levels, & in estimating the probability of future price movements,” he added.

While not many experts use the Gaussian Channel for price analysis, Egrag describes it as “an invaluable tool for risk management & informed decision-making in trading.”

The analyst identified four zones over the past decade that have defined XRP’s price, labelling them A, B, C, and D, as shown in the image below.

(Click on image to enlarge)

In the current cycle, Egrag says we have already passed Zone A, and we should finish Zone B within the next six weeks. This second zone is marked by hyper growth, as happened in 2017/18 when XRP shot up from $0.255 to an all-time high of $3.84 in just one month.

The analyst believes that we could be entering Zone C in July and that it will likely extend for the rest of the year, ending around January next year. He projected that this would be “a life-changing window.”

However, he cautioned investors, noting:

Please note that these dates do not signify the cycle top but rather indicate the beginning of the bear market’s deep phase. Hence, these dates should not be used as an exit strategy but rather as an anticipation of the start date of the deep bear market stage.

XRP Remains As Strong As Ever

XRP trades at $0.5199 and has been trading sideways since Wednesday. Over the past week, it has stayed above the critical $0.5 level except for a slight dip on Monday that was quickly corrected. Despite new developments in recent times on the Ripple vs. SEC lawsuit, the crypto has remained steady for most of the past month, oscillating between $0.5 and $0.55.

While critics have taken aim at XRP for its relative stability as other altcoins soared this year, its community remains as strong as ever. One of them, Good Morning Crypto’s host Abdullah Nassif, recently reminded the community that it’s all about the long game. XRP has an ambitious goal that goes beyond quick gains, and investors must remain focused on that. He stated on X, adding:

XRP Is Built To Change The World, But The Expectation Of Replacing Everything In Global Finance Overnight Sets The Average Investor Up For Disappointment.

Beyond the speculation, the XRP community continues to build, from offline payments through text messaging to exciting new partnerships with multi-million dollar payment firms like Modulr.

Ripple Enables Modulr to Deliver Seamless Payments Across the UK and Europe..#XRP https://t.co/WPeEwKdqEb pic.twitter.com/DBfELh3bpA

— RIZ.. #VoteJohnDeaton4Senate ☀️ (@RizXRP) May 16, 2024

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