A recent tweet from cryptocurrency analyst Egrag Crypto has sparked interest among XRP investors, as he claims that the asset may be following a pattern seen in previous market cycles.
The 'Face Melting Phase' setup identified by Egrag focuses on the relationship between XRP's price action and the 50-month and 100-month exponential moving averages (EMAs).
Historically, when XRP loses the 50 EMA decisively on the monthly chart, it has gravitated towards the 100 EMA before beginning its next major expansion.