XRP Coin was one of the best performing cryptocurrencies in Q4 2024. It also improved its market capitalisation ranking with an impressive rally. Meanwhile, other cryptocurrencies have retreated significantly in the recent market crash, which liquidated billions of dollars from long positions and created a buying opportunity. According to crypto expert Vinicius Barbosa, MultiversX (EGLD) currently stands out as a ‘buy’ opportunity. The expert explains the reasons for this.
EGLD price analysis and technical indicators
The key support zone formed after EGLD broke on 11 November after weeks of consolidation. EGLD gained momentum and crossed the 200-day exponential moving average (1D 200-EMA). Moreover, it is currently hovering around $34.91. Therefore, holding the price action above the support zone successfully tested during last week’s crash and breaking the 200-EMA again could set MultiversX’s native token for another rally. In contrast, the daily Relative Strength Index (RSI) is showing weak momentum at 36.00. This is likely to indicate a continuation of the bearish trend. However, these RSI levels have historically preceded short-term reversals and breakouts. Because investors preferred the fundamentals and saw the buying opportunity.
EGLD, not XRP Coin, signals ‘buy’ despite the decline!
Despite the weak price action and potential reversal signalled by technical indicators, the ‘buy’ of MultiversX is also backed by solid fundamentals, expert analysis, and real-world momentum with partnerships and collaborations. In terms of technology, MultiversX is one of the robust Blockchains to meet high-end demand. Justin Bons, founder of Europe’s oldest cryptocurrency fund, also praises it. Bons sees MvX as the ‘technological Holy Grail of crypto’ due to its features. Last week, three other analysts stated that they were ‘keeping an eye’ on EGLD. Namely, Lucky Luciano, EliZ and Crypto Busy, all of whom have six-figure follower counts on X. Lucky is targeting $100 for EGLD. He also says that there is ‘a lot of room for future growth’.
Active development, partnerships and collaborations
In particular, the MultiversX ecosystem organises hackathons around the world. It also focuses on active development through colabathons. For example, in 2024, Vakıf hosted the MultiversX Rust Bootcamp in Turkey, Helios Stacking organised a colabathon with Injective (INJ) in Spain. Also, Rather Labs recently held its MultiversX development-focused event in Argentina.
As you follow from Kriptokoin.com, MultiversX has partnered with Alibaba Cloud to host hackathons and related events in Asian countries for 2025. Also, the Foundation recently announced a $1.5 million grant programme called Growth Games. In addition, Beniamin Mincu is exploring a collaboration with Charles Hoskinson of Cardano (ADA).
The opinions and forecasts in the article are those of the expert and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channel to stay up to date with breaking news !
