A popular analyst is bullish on XRP, believing that altcoins are poised to outperform Bitcoin.
Known in the industry as Credible Crypto, he told his 257,400 Twitter followers that XRP’s pricing structure looks very similar to the OriginTrail (TRAC) data sharing protocol, which just rose more than 300% after being listed on Coinbase Pro.
“The following XRP chart is from my last YouTube video of XRP in August. The chart next to it is another coin with a similar structure, but that has completed wave 5. Coincidental. It’s not light here.”
XRP / USD daily chart | Source: Credible Crypto
Daily TRAC / USD chart | Source: Credible Crypto
After another breakout in the ETH / BTC pair, the analyst believes the pair will continue to rise.
me too Note that bitcoin’s dominance may have peaked, further paving the way for a rally in altcoins.
“ETH / BTC broke out today and closed above an important area of resistance that I am watching. This is a great sign and shows that BTC dominance may have peaked and many altcoins could steal the limelight, led by ETH. ”
analyst speak that a decline in Bitcoin dominance does not necessarily mean that the price of BTC will fall.
Taking a closer look at the benchmark cryptocurrency, Credible says that Bitcoin must rise above $ 63,000 to $ 64,000 to resume its uptrend. A rejection of this zone would likely bring BTC to key support at USD 58,000.
“63-64k is an important price zone. A breakout means a new ATH while a rejection suggests that BTC needs more accumulation, key support is found at USD 58,000.
Hourly BTC / USD Chart | Source: Credible Crypto
You can see the XRP price Here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Dailyhodl
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Bybit Proof of Reserve reveals BTC holdings at 50,412 (-8.55%), ETH at 525,641 (+8.11%), and…
Key Points: Bitcoin Spot ETF Inflows totaled $449M, led by BlackRock’s $1.45B contribution. Ethereum Spot…
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
This website uses cookies.