The XRP Nike swoosh pattern suggests a price increase to $6.4 or $13

XRP price movements over the past seven years have resulted in a Nike swoosh setup that a notable analyst recently used to identify lofty targets.

Market analyst EGRAG identified This bullish setup for XRP represents a “Nike swoosh” pattern that dates back to January 2018, when XRP crashed from its all-time high of $3.31.

The analyst believes that this formation could pave the way for a major rally. However, to initiate this momentum, XRP must first overcome the critical $1 mark that XRP recently reached.

The Nike Swoosh pattern from XRP

The Swoosh pattern indicates a Soil formation phase This precedes a possible uptrend in XRP value. Data from the chart suggests that if XRP follows the upward arc of the Swoosh pattern, it could advance to greater heights.

XRP remained below the $1 mark for almost three years, but XRP broke through this long-standing resistance. EGRAG analysis suggests that a solid break above $1.10 would serve as a launch pad to higher targets. EGRAG sees $1.10 as a trigger. The expert sees $1.10 as a base level for further upward movement. This support could turn $1 into a long-term floor.

According to EGRAG, achieving these goals will depend on market dynamics, with $6.4 acting as the primary resistance on the non-logarithmic scale. On a logarithmic scale, the chart suggests a higher target of $13. These levels represent long-term goals.

As XRP successfully reached and established support above $1.10, it could now set its sights on EGRAG’s forecast targets of $6.4 and $13. However, achieving these levels would likely require support from the broader market strong buying momentum.