Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets
Crypto analyst Egrag Crypto has singled out VeChain (VET) and XRP as two crypto tokens that could soon witness significant price surges. The analyst also outlined price targets crypto investors can expect these tokens to attain.
VeChain Could Rise To As High As $2.5
From the chart Egrag shared in his X (formerly Twitter) post, one could see that he was hinting that VeChain hit $2.5 at its market peak. He also elaborated on how the crypto token will rise to that level by breaking 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 as high as $0.18 when this target is fully achieved. Egrag noted that this will mark the “forging of the MACRO-Bottom.” The second target will see the crypto token rise to almost $0.9. The analyst pointed out that this channel “aligns with the Fib 0.702 & 0.786 levels,” forming what he referred to as the “Mid-Bull-Cycle.”
VeChain is expected to rise to as high as $2.5 when the last target is achieved. Egrag remarked that this target aligns with “key Fib levels 1.236, 1.414, & 1.618, suggesting the potential cycle top for #VET.” This isn’t the first time the crypto analyst has laid a bullish narrative for the VeChain token.
In February, he predicted that the crypto token could witness a 140x price increase if it repeats its price action from around 2021 when it rose by 14.638%.
XRP Run To $1.4 Still In Play
Egrag provided his 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 “thrust will soon.” This recent analysis was an update to a previous one where he predicted that XRP would rise to $1.4 soon enough.
Source: X
Back then, he was also confident that this move to the upside was imminent, noting that the bulls had accumulated all the XRP tokens that the bears had dumped. He urged XRP holders to “stay steady” in anticipation of the life-changing opportunities that may arise due to the crypto token’s parabolic surge.
Egrag has remained bullish on the XRP token despite its unimpressive price action. He has predicted at different times that the crypto token could rise to as high as $27 at its market top.
At the time of writing, XRP is trading at around $0.54, up in 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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