Altcoin
XRP Price To Flip Ethereum Price, Analyst Reveals How
Crypto analyst Egrag Crypto has provided an ultra-bullish outlook for the XRP price. The analyst revealed how XRP could flip the Ethereum price to become the second-largest crypto by market cap, behind Bitcoin.
How The XRP Price Could Flip The Ethereum Price
In an X post, Egrag Crypto boldly asserted that the XRP price would flip the Ethereum price twice. This came as he noted that money typically flows from Bitcoin to Ethereum to other large caps, which triggers the alt season.
However, he asserted that this cycle is different as money will flow from BTC to XRP to large caps to mid-caps, after which the alt season will begin. Egrag Crypto opined that XRP is front-running other coins this time around, which is why he is confident that the crypto could easily become the second largest by market cap.
The crypto analyst went on to explain how the XRP price will flip the Ethereum price. He stated that the first flip will happen when XRP reaches a market cap of around $500 billion, pushing it to between $7 and $8 and flipping ETH in the process.
Egrag Crypto added that the second round flip would follow when ETH climbs to between $6,000 and $8,000, leading XRP to a blow-off of around $20 to $27, which is a market cap of $1 to $1.3 trillion.
The crypto analyst also suggested that ETH’s fundamentals are weak, which would make it easy for XRP to flip. He alluded to the fact that Ethereum’s inflation rate has skyrocketed, which discredits its tag as “ultrasound money.”
Insights Into The Current Price Action
In an X post, crypto analyst CasiTrades provided insights into the current XRP price action. She noted that XRP’s correction has brought the coin back to the major $3.08 level, which is the .236 retracement level, which continues to act as support.
She opined that this is another buying opportunity but added that all retracement levels remain in play since the last high didn’t break. The analyst then revealed key levels to watch for XRP.
The first is the $3.08 price level, which is holding so far and could potentially be a consolidation zone. According to her, the $3 price level is the next support level if the $3.08 level fails. The last price level she highlighted is $2.94, which she claimed is the lowest retracement in this move.
CasiTrades then mentioned that the XRP price action needs more development before there is confirmation of the next move. Analyzing the 15-minute chart, she remarked that it is possible that XRP is forming a triangle that is targeting the .236 retracement level, which would suggest no further retracement is needed.
In the meantime, the crypto analyst remarked that the plan is to remain cautious and be prepared for lower fib levels until the XRP price breaks above $3.22. If the potential triangle forms, she claimed the breakout will happen soon, confirming the .236 retrace was the target.
In anticipation of any price breakout, XRP whales are actively accumulation the crypto. As CoinGape reported, these whales have bought over 120 million coins this week.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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