XRP long-term price chart shows signs of resilience, with analyst Egrag suggesting the token remains in an upward trend with the “Bifrost Bridge.”
In a recent analysis, Egrag highlighted this bullish sentiment while examining XRP’s performance over a three-month timeframe. He pointed out the strength of the “Bifrost Bridge,” a support zone that has held steady for nearly 2,650 days.
According to Egrag, the three-month timeframe reveals that the Bifrost Bridge still remains firm for XRP. He stressed that this high timeframe adds weight to his bullish outlook. It also confirms the positive case for XRP across other timeframes as well.
How XRP Is Holding Firm Above the Bifrost Bridge
For context, the Bifrost Bridge in Egrag’s analysis represents an ascending trend line that has been in place since 2014. This trend line intersects XRP’s candlestick pattern on the three-month chart, showing that for the past decade, XRP’s price has consistently remained above this ascending line.
XRP historical chart showing Bifrost Bridge
Egrag revealed that XRP has not closed even half of a price candle inside the Bifrost Bridge over a three-month timeframe in the last seven years. He believes this is an indication that the crypto asset is maintaining a solid structure on higher timeframes.
As a result, he emphasized that XRP has been in an upward trend since its breakout in April 2017. Despite the usual market fluctuations, the token has consistently respected its support levels over the years.
Historically, XRP traded much lower years back in 2017 when its price included two zeros. Currently, it’s trading at $0.5289. This has bolstered Egrag’s confidence that XRP remains in an uptrend, even though it is currently 84% below its all-time high from 2018.
The Bifrost Bridge: XRP Army’s Direct Teleportation to Valhalla
Egrag’s analysis suggests that as long as XRP stays above the critical support level of $0.28, broader market corrections and temporary dips are insignificant. “Everything else is just noise,” he stated.
He encouraged traders to view these moments as opportunities to accumulate more XRP or trade other assets to grow their XRP holdings.
Ultimately, he emphasized that the Bifrost Bridge is the XRP community’s direct teleportation to Valhalla, a metaphor for achieving the ultimate goal of financial success or reaching new all-time highs.
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