Cryptocurrency pioneer Bitcoin (BTC) and XRP, one of the most popular altcoins, were recipients of a seemingly bullish projection by renowned crypto market watcher and enthusiast Egrag Crypto.
Intriguingly, the crypto expert’s latest BTC and XRP analysis mirrored a unique analogy involving the Atlantic and Pacific oceans, particularly their meeting point, highlighting several price targets that would eventually culminate in BTC at $210K and XRP at $27.3.
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Presenting his analysis, Egrag hinted at a significant fact that would be crucial in helping readers understand his analysis. The market analyst stated, “The Atlantic and Pacific Oceans don’t mix visibly at certain points, like in the Gulf of Alaska, due to differences in water density, salinity, and temperature.”
#XRP / #BTC Atlantic & Pacific Line 🌊”
Hint: The Atlantic and Pacific Oceans don’t mix visibly at certain points, like in the Gulf of Alaska, due to differences in water density, salinity, and temperature.
Our #XRP / #BTC Chart is next mixing like the Atlantic & Pacific Oceans… pic.twitter.com/of5V1cMrdj
— EGRAG CRYPTO (@egragcrypto) May 27, 2024
XRP/BTC Chart Mixing Like The Atlantic And Pacific Ocean
Having established that the Atlantic and Pacific oceans do not mix at certain points, the market analyst drew a similar analogy with the XRP/BTC price chart, implying that both should not cross.
However, like the two oceans, both price charts could cross each other, which Egrag noted to indicate two crucial points, termed “Macro Targets” on the XRP/BTC trading chart. According to Egrag, the first point will give rise to “Target 1” at 0.000005, while the second point will reflect “Target 2” at 0.00013.
Significance of Target 1 and Target 2
Per the market analyst, both targets hinted at a potential bullish trajectory for the coins involved. Explaining how the two targets could imply a rally, Egrag stated, “Both targets are super bullish because the lower target means we have bottomed on the MACRO-View, and the only direction is up,” he added, “The upper target aligns with the previous all-time high (ATH) touch points.”
Price Trajectories Following Target 2 Appearance On The XRP/BTC Chart
Projecting several Bitcoin price targets on the coin’s pathway to attaining $210K, Egrag first highlighted a $80K price level, which would serve as the support level that would orchestrate BTC’s rally with stops at $100K, $125K, $150K, and eventually, the ultimate $210K price status.
For XRP, the market expert cited potential supports that would catalyze the bull run at $10.4, with subsequent stops at $13, $16.25, $19.5, and eventually the peak price level at $27.3.
Bitcoin In The Market Today – Is $210K A Realizable Target?
At press time, Bitcoin’s price statistics on Coincodex revealed the flagship crypto asset to be changing hands at approximately $68,630, having registered a 0.53% decline in the past 24 hours.
Despite the slight decline, Bitcoin’s risk assessment statistics remain favorable, as its only drawback stems from trading only 13 green days in the past 30 days. Notably, BTC attained its ATH a few months ago when it clinched a $73,628 price mark in March 2024. Should BTC sustain its current momentum, it would not be long before it eventually ascends to $210K.
XRP In The Market Today – Is $27.3 A Realizable Target?
XRP’s market readings on Coincodex at the time of drafting this report, revealed the digital asset price to be about $0.54, reflecting an insignificant 0.02% decline in the past 24 hours.
Unlike Bitcoin, XRP’s risk assessment indices do not appear impressive, as it is trading below the 200-day Simple Moving Average (SMA) and has only outperformed 25% of the top 100 performing cryptocurrencies.
While the indices above might not depict a favorable outlook for XRP, it does not cancel the propensity of a spontaneous turnaround in the coin’s fortune, making the $27.3 price prediction a reliable target.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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