2024-7-29 16:30 |
ExtraVOD, a top crypto analyst, has issued a “Red Alert” for XRP in a YouTube video analysis. The content creator suggests XRP is at a critical juncture, poised for a price movement.
Moreover, the analyst leans towards predicting a substantial price increase rather than a decline, citing current market conditions and technical indicators.
Why XRP Price Will PumpHe points to XRP’s current stability as a crucial factor for its potential upward movement. XRP is stable but look at Bitcoin, it’s been pumping,” the analyst notes.
This stability, coupled with an influx of capital into XRP on higher time frames, sets the stage for a possible breakout.
The analyst expects a trigger event soon that could confirm the anticipated upward movement.
“I’m waiting for a trigger, guys, for the confirmation. Hopefully, today or tomorrow it occurs,” ExtraVOD states. This trigger could signal the start of XRP’s participation in the broader altcoin rally.
Signs of Altcoin SeasonAccording to ExtraVOD’s analysis, the crypto market appears bound an altcoin season. Solana’s surge past BNB to become the fourth-largest crypto by market value supports this view.
However, the analyst identifies a bearish divergence for Solana against Ethereum on technical charts. This pattern suggests Ethereum may soon outperform Solana, potentially leading the charge in the altcoin market.
ExtraVOD highlights Ethereum’s growing institutional interest, including its Wall Street presence through an ETF and partnerships with major companies like Toyota.
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Ethereum’s Crucial RoleEthereum’s performance is crucial to the overall altcoin market, according to ExtraVOD.
The analyst discusses Ethereum’s potential to reach new highs, possibly up to $10K or $15K, depending on Bitcoin’s performance. Current chart patterns for Ethereum resemble those seen before previous bull markets.
ExtraVOD emphasizes the importance of Ethereum’s rising dominance as a precursor to a full-fledged altcoin season. The analyst’s technical analysis indicates a target of $2.5 trillion for the total market cap excluding Bitcoin, based on the observed cup and handle pattern.
XRP’s Potential in the Coming RallyExtraVOD expresses optimism about XRP’s role in the anticipated market uptrend. “XRP will explode during this uptrend, this explosive rally higher,” the analyst predicts.
Technical patterns support this bullish outlook, with XRP showing signs of preparing for gains.
The total altcoin market cap shows signs of reclaiming key support levels, further bolstering the case for an impending surge. ExtraVOD references historical patterns that suggest explosive growth often follows the formation of higher bottoms in the market.
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