Analysis

According to KOL Credible Crypto, XRP is ready to start a new rally

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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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.