|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Market Analyst EGRAG Crypto Believes XRP Has Finally Reached a Bottom Against Bitcoin, Sets Ambitious Price Targets
Sep 04, 2024 at 06:10 pm
XRP has been underperforming against Bitcoin for quite some time, but recent analyses suggest that this trend may be changing.
After a prolonged period of underperformance against Bitcoin, XRP is finally showing signs of life. According to market analyst EGRAG Crypto, XRP has reached a bottom against Bitcoin, setting the stage for a potential price surge.
In an August 29 analysis, EGRAG shared a chart tracking XRP's long-term performance against Bitcoin, spanning several years. In his initial analysis, EGRAG highlighted the “Atlantic & Pacific Line,” drawing a comparison to the meeting point of two distinct oceanic bodies that don't mix. This metaphor was used to describe two targets on the chart.
The lower target, set at 0.00000500 BTC, represented the bottoming point for XRP in its macro view against Bitcoin. This level marked the lowest point XRP could reach relative to Bitcoin, indicating that from this base, the only direction is upwards.
Meanwhile, the second target was 0.00013000 BTC, a much higher target set by EGRAG, corresponding to a previous all-time high for XRP against Bitcoin. The initial analysis suggested that XRP could first drop to the 0.00000500 BTC low before recovering to 0.00013000 BTC.
After the May analysis, XRP continued to drop against Bitcoin, a trend that began in Q4 2023. Despite Bitcoin also facing a correction, the sharp collapse of the XRP/BTC ratio confirmed that XRP's rate of decline was much harsher due to greater volatility.
In his recent update, EGRAG confirmed the formation of a bottoming structure on the XRP/BTC chart following the drop.
This structure, according to EGRAG, indicates that XRP is preparing for a significant upward movement. The analyst suggests that the fourth quarter of the year will be a critical period for XRP, a time that could mark the “ignition stage” for this anticipated rally.
He then set ambitious price targets for both Bitcoin and XRP, with the 0.00013000 BTC target in sight. If XRP reaches the upper target of 0.00013000 BTC, and assuming Bitcoin's price hits certain milestones, XRP could see substantial gains.
For instance, if Bitcoin reaches $80,000, XRP could be valued at around $10.40. This valuation only grows more lucrative with higher Bitcoin prices, potentially reaching as high as $27.3 if Bitcoin itself hits $210,000.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Rexas Finance (RXS): The New Millionaire-Maker Bet in the Blockchain Industry
- Sep 21, 2024 at 10:51 pm
- Even though Dogecoin and Shiba Inu have risen very well on meme coin status, the outlook on their road to making millionaires by 2025 is quite dim.
-
- Sangmin Seo: China's Crypto Clampdown Led to the Decentralization of Asia's Crypto Infrastructure
- Sep 21, 2024 at 10:51 pm
- Sangmin Seo, chairman of the Kaia DLT Foundation, asserts that China's crackdown on the crypto industry, which led to its loss of dominance in bitcoin
-
- Dormant Bitcoin Wallets Spring Back to Life, Stirring Speculation and Market Interest
- Sep 21, 2024 at 10:51 pm
- The activation of Satoshi-era Bitcoin wallets after years of inactivity has generated considerable interest, both for its historical significance and its potential impact on market sentiment.
-
- BNB Nears ATH, Rollblock Promises 200% ROI This Month, Shiba Inu News Makes Depressing Reading
- Sep 21, 2024 at 10:30 pm
- In the latest crypto news, BNB is inching closer to its ATH, and Rollblock’s online casino is set to hit 200% ROI this month. Shiba Inu’s news is not
-
- Arthur Hayes Sells $4.4 Million Worth of PENDLE After Bullish Post
- Sep 21, 2024 at 10:25 pm
- On September 11, Hayes made a bullish post on PENDLE, predicting a $10 target when integrated with Bitcoin (BTC) DeFi.
-
- Billy Markus Trolls Bitcoin Bulls After the Market Reacts Bearishly to Powell’s Announcement
- Sep 21, 2024 at 10:25 pm
- Billy Markus, known on the X social media network as Shibetoshi Nakamoto, who created the iconic meme cryptocurrency Dogecoin in cooperation with
-
- CYBRO Presale Exceeds $2 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity
- Sep 21, 2024 at 10:25 pm
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $2 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
-
- Shiba Inu, Dogecoin, and Dogen Surge: What’s Behind the Renewed Hype for These Memecoins?
- Sep 21, 2024 at 10:25 pm
- Memecoins are capturing the spotlight once again as Shiba Inu, Dogecoin, and Dogen experience significant gains. This surge in popularity raises questions
-
- Bitgert (BRISE) Makes the Rounds as a Crypto Asset to Watch Out for a Huge Price Movement
- Sep 21, 2024 at 10:25 pm
- Crypto is always buzzing with new projects, but while old players like BNB and Cardano keep solidifying their position as industry favorites, new players like Bitgert are actively growing as worthy competitors.