According to reports from Egrag Crypto, a statistical model now being applied to XRP points to a wide range of possible outcomes — from a modest climb to an extreme rally.
The coin is trading near $2.86 and has fallen about 2% over the past week, which the firm says sits it near an important junction on a long-term trend line.
Let’s check these numbers: a monthly linear regression plotted on a logarithmic scale, with an R-squared of 0.847. That figure is being used to argue that the model explains roughly 80% of past price movement.
Monthly Regression Model On Log Scale
Egrag’s model is statistical and simple in form, but it is plotted in a way traders often use to read long-term cycles. According to Egrag, XRP has touched the upper limit of that regression channel on three separate occasions, and those past touches inform the present forecast.
#XRP – Hit, Miss, or Over Shoot? ( $27, $18 Or $200)
The chart below is based on the monthly time frame and reflects our
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