A prominent analyst says XRP is poised to start a new rally.

The analyst, nicknamed Credible Crypto, told his 307,000 Twitter followers that the XRP/BTC pair is forming a new bull market structure.

“It was the strongest daily candle I’ve seen on XRP/BTC in 6 months. It broke out above the falling wedge resistance line and a key resistance area. Could have avoided the feared steep descent. There will be further confirmations in the coming days as to whether the move is valid.”

The source: Credible Crypto/Twitter

The analyst then confirmed his thesis by looking at the weekly chart of XRP/USD and predicted a slight correction before breaking above $1 and then $1.60.

“It’s been a few days – I want to see that. As long as the price stays above $0.70 – $0.80 I expect it to continue higher.”

The source: Credible Crypto/Twitter

Looking to Bitcoin (BTC), the analyst predicts similar things for the crypto king. According to him, traders can expect at least a 10% drop before continuing higher towards $50,000.

“Now BTC is at the monthly resistance and we might see a pullback. If so, a higher bottom in the $38k-40k zone will be a positive development to target the next $50k target. After that, I will aim for a new ATH.”

The source: Credible Crypto/Twitter

The analyst also expects Curve (CRV) could rise 87% in the near term. After touching $7 or higher, Credible believes the bulls will consolidate and surpass this level in the coming months.

The source: Credible Crypto/Twitter

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.

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