Analyst Eric Tylie speculates a 20,000% surge for ETFSwap amidst presale due to its numerous potential use cases and promise of automatic profit for investors.
As the crypto market remains unstable due to a battle for control between the bears and the bulls, a crypto analyst has made bullish speculation on Ripple (XRP), predicting a 5,000% surge for the altcoin.
An ETF token, ETFSwap (ETFS), was also speculated to surge by over 20,000% amidst its ongoing presale event. Let’s see the reason for the analyst’s optimistic view on ETFSwap (ETFS) and Ripple (XRP) despite the market-wide instability.
Ripple (XRP) Forms Bullish Pattern
Crypto analyst Tylie Eric has called attention to an emerging bullish pattern on the Ripple (XRP) chart, which could lead to an imminent 5,000% surge. The analyst revealed this bullish prediction on Ripple (XRP) in an X (formerly Twitter) post on August 19, 2024.
In the post, Tylie analyzed the Ripple (XRP) chart, which features a symmetrical triangle pattern. According to the analyst, the pattern has been forming since 2021, shortly after Ripple (XRP) fell from a high of $1.96. Tylie speculates that given the long period of consolidation, a breakout from the pattern would be massive, pushing Ripple (XRP) to a future price mark of $32.
However, Tylie noted that Ripple (XRP) must cross some significant resistance levels to reach the predicted price mark. According to the chart, one of the immediate resistance levels Ripple (XRP) will have to overcome is the $3.5 mark, which is around the same range as its current all-time high.
According to CoinGecko, Ripple (XRP) currently trades around the $0.602 mark and ranks 7th in the crypto market. Following Ripple’s (XRP) current price data from CoinGecko, the altcoin will experience a 5,261% increase if it skyrockets to the projected price of $32.
ETFSwap (ETFS) To Surge By 20,000% Amidst Presale
Analysts like Tylie have also made bullish speculations about ETFSwap (ETFS), which offers its native token ETFS to everyone at a low price of $0.01831 per coin in its ongoing presale event. According to the analyst, ETFSwap (ETFS) will surge by over 20,000%, giving all early investors a profit margin of over 200x of their investment.
The analysts made this bullish prediction on ETFSwap (ETFS) due to its promise of automatic profit for all investors who buy now, as its price will increase to $0.03846 soon. However, the analyst also based his prediction on the sleek features and uniqueness of the ETFSwap (ETFS) platform. The ETFSwap (ETFS) platform is a crypto ETF trading network that introduces traders to the unique option of trading tokenized exchange-traded funds (ETFs).
The traders will thus gain on-chain exposure to assets in various industries since the tokenized ETFs will directly represent their traditional counterparts on the blockchain. The analyst was also impressed by the leverage feature on the ETFSwap (ETFS) trading platform, which enables traders to maximize their profits with up to 50x leverage.
Users interested in diversifying their portfolios will also greatly benefit from the fractional ownership feature available on the platform. However, a feature that must have stood out to the analyst is the seamless swapping functionality, allowing traders to swiftly convert their tokenized ETFs to other crypto assets.
However, to access this and every other feature on the network, including trading tokenized ETFs, all users must hold a portion of ETFS. As the platform’s native token, ETFS powers the network and serves several other purposes, including utility and governance. Use cases make a token valuable; therefore, the analyst must have also made the bullish speculation with ETFS’s numerous potential use cases in mind.
Conclusion
While crypto analyst Tylie expects Ripple (XRP) to surge by over 5,000% to the $32 mark, the altcoin has a long way to go before reaching the projected price. Also, the bullish thesis risks invalidation due to the several resistance levels Ripple (XRP) must cross before skyrocketing in value. However, ETFSwap’s bullish surge does not hinge on any resistance level; thus, now is the best time to buy the token before it significantly increases in value.
For more information about the ETFS Presale:
