XRP analyst Egrag Crypto, known for his bullish predictions regarding XRP, has recently shifted his focus to another prominent altcoin, XDC. According to his analysis, XDC could experience an impressive surge, potentially yielding gains of up to 3,350% as favorable market indicators emerge.
XDC To Rally To $2 As Indicators Turn Bullish
In a recent X post, Egrag Crypto outlined his prediction that XDC will first rally to $1, followed by a potential rise to $2. He characterized the altcoin’s chart as “amazing,” pointing out that the RGB (Red-Green-Blue) indicators are perfectly aligned with the XDC token. This alignment suggests that XDC may experience a tenfold increase in value.
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The anticipated price surge for XDC targets Fibonacci levels between 1.414 and 1.618, which corresponds to projections of $0.50 to $0.80. Egrag Crypto notes that these price levels remain below the previous cycle’s all-time high, where the token surged by a remarkable 3,350%. He believes that a replication of this explosive growth could position XDC at the $2 mark.
In addition, the analyst highlighted the Stochastic Relative Strength Index (SRSI) as another bullish indicator. While he acknowledged that XDC still has a considerable journey to achieve and maintain RSI levels above 80, he affirmed that the momentum appears to favor bullish trends. Egrag Crypto suggested that substantial price movements for this altcoin may be imminent.
The Bearish Angle For The Altcoin
The XRP analyst also discussed potential bearish scenarios for XDC. He warned that the 21 Exponential Moving Average (EMA) is close to crossing below the 33 Moving Average, an event that could signal a bearish trend for the altcoin.
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Despite this bearish angle, Egrag Crypto remains optimistic, believing that this crossover is likely to be avoided. He proposed that a significant price peak might occur before any subsequent retracement. He urged market participants to remain vigilant, as unexpected sharp upward movements could precede any downturn.
From a fundamental standpoint, XDC’s outlook is also quite promising. The XDC network has officially joined the MiCA alliance, marking a significant advancement in its efforts to synchronize blockchain innovation with regulatory clarity in Europe. The network’s commitment to compliance and transparency aims to foster long-term trust. Similar to Ripple’s offerings with XRP for cross-border payments, XDC operates as a layer-1 blockchain with real-world applications, including trade finance and RWA tokenization.
As of this writing, the XDC price hovers around $0.07, reflecting a 1% increase over the past 24 hours, based on CoinMarketCap data.
