A famous cryptocurrency analyst, Egrag Crypto, gave a thorough analysis of the movement of the XRP/BTC market, summing up the situation with moderate optimism. As predicted by followers of Egrag Crypto, his analysis relies on the performance of XRP versus Bitcoin (BTC) regarding whether it will exceed a key value of 0.000010.
Upon retrospective analysis of 2017 historical data, Egrag mentioned a pattern in the XRP market, which is a bounce from the ‘YOLO Band’ that previously indicated 45% Ripple market plunge. Nonetheless, instead of catastrophe it turned out that this slump created an excellent chance for the owners, who had enough courage to buy at the lowest point of the market. Egrag uses this example to show the instability of the cryptocurrency market and the possibility of great returns.
Source: Chart by Egrag Crypto
Insight For New XRP Investors
To newcomers to the world of cryptocurrencies who might be scared by the prospect of a 45% decrease in the value of XRP on the traditional pair, Egrag stated that such a move might reflect a surge in the value of Bitcoin and that it could hit new all-time highs. Consequently, XRP in USD equivalent may still be stable. His clarification was intended to alleviate the knee jerk fear that arises after such predictions, and promote a moderate reaction from the XRP community.
The message Egrag Crypto sent to the XRP Army is one of resilience. He advised them to keep calm and stay prepared during the next 6 to 12 months, which he estimated could be a game-changer for the holders of XRP. Such an advice is especially relevant in the market that is notorious for its caprice like that of cryptocurrencies.
To newcomers in the world of digital currency investing, such analyses provide not only direction but also a preserver of the crypto market’s inherit inconsistencies. Egrag Crypto’s interpretation is thus a reflection of the past and a projection of the future, that is, a duel for his followers to consider their investment strategies.
In the dynamics of crypto market, the observations of analysts like Egrag Crypto are crucial to both professional players and starters. With the possibility of major market moves, the community is very closely looking at the YOLO Band and the critical levels that are to come.