Crypto analyst Egrag Crypto recently evaluated cryptocurrencies like VeChain (VET) and XRP. The analyst suggested that both altcoins could witness notable price increases. He also shared potential price targets for these tokens.
VeChain’s Potential to Reach $2.5
According to one of Egrag’s charts, VeChain could potentially rise to $2.5. The analyst provided a three-stage ascent roadmap. The first target, upon crossing the yellow channel, could see VeChain rise to $0.18, which Egrag interprets as “beating the MACRO-Bottom level.”
The second target points to the cryptocurrency potentially reaching nearly $0.9. The analyst noted that this channel aligns with the “Fib 0.702 and 0.786 levels” and represents what he calls “Mid Bull Cycle.”
The final target shows VeChain potentially rising to $2.5. Egrag stated that this target aligns with the “1.236, 1.414, and 1.618 Fib levels” and could indicate a potential cycle peak for VET. This analysis is not the first bullish forecast for the VeChain token. In February, Egrag highlighted that the token had surged by 14,638% in 2021 and speculated that a similar 140-fold price increase could occur again.
Strong Uptrend Signal for XRP
Egrag also offers a positive outlook for altcoin XRP. His analysis suggests that XRP is showing strong signs of an uptrend and could experience a rise in the short term. In addition to previous predictions, Egrag mentions that the cryptocurrency XRP could soon reach $1.4. This expected rise is based on strengthening bullish trends and bears accumulating the token.
According to Egrag’s analyses, both VeChain and XRP appear to be preparing for significant price increases. However, the volatile nature of crypto markets should be considered. Particularly, the price of Bitcoin, the flagship cryptocurrency, will likely play a decisive role at this point. However, it’s also important to note that XRP investors should be aware of an ongoing legal case.
