Crypto Analyst Egrag Crypto highlighted VeChain (VET) It is XRP as two crypto tokens that could soon witness significant price increases. The analyst also outlined the price targets that crypto investors can expect these tokens to reach.
VeChain could reach $2.5
From the graph that Egrag shared in his post on X (formerly Twitter), it can be seen that he was implying that VeChain it reached $2.5 at its market peak. He also elaborated on how the crypto token will rise to this level, breaking down its price action into three targets. The first target was the yellow channel, which he highlighted on the chart.
Source: X
VeChain is expected to rise to $0.18 once this target is fully achieved. Egrag noted that this will mark the “forging of MACRO-Bottom.” The second target will see the cryptographic token rise to almost US$0.9. The analyst highlighted that this channel “aligns with the 0.702 and 0.786 Fib levels”, forming what he called an “Average Bullish Cycle”.
VeChain is expected to rise to $2.5 when the latest target is reached. Egrag noted that this target is in line with “key Fibonacci levels 1.236, 1.414 and 1.618, suggesting potential cycle top for #VET.” This is not the first time that crypto analyst presented a bullish narrative for the VeChain token.
In February, he foreseen that the crypto token could witness a 140x price increase if it repeats its price action from around 2021 when it rose 14,638%.
XRP reaches $1.4 still in play
Egrag provided its bullish analysis of XRP in a separate X post. He stated that the crypto token’s double formation was giving a “strong bullish signal.” He added that he is confident that the “boost will come soon.” This recent analysis was an update to an earlier one where he predicted that XRP would rise to $1.4 shortly.
Source: X
At that time, he was also confident that this upward move was imminent, noting that the bulls had accumulated all the XRP tokens that the bears dumped. He urged XRP holders to “remain steady” in anticipation of the life-changing opportunities that could arise due to the crypto token’s parabolic rise.
Egrag remained bullish on the XRP token despite its unimpressive price action. He has foreseen at different times the crypto token could rise as high as $27 at its market top.
At the time of writing, XRP was trading at around $0.54, up over the last 24 hours, according to data from CoinMarketCap.
VET price at $0.04 | Source: VETUSDT on Tradingview.com
Featured image from Watcher Guru, chart from Tradingview.com
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