A prominent cryptocurrency analyst, known as Credible Crypto, foresees significant upward movement in the price of XRP as it prepares to potentially outperform major cryptocurrencies like Bitcoin and Ethereum.
The analyst anticipates a bullish trend reversal for XRP, based on signals identified against Bitcoin (XRP/BTC) and Ethereum (XRP/ETH). He believes this could be the start of a new growth phase for XRP.
Read Also: Credible Crypto Issues XRP Price Warning after a Crucial Ruling in Favor of Ripple
XRP Analysis
In a post on X, Credible Crypto made it known that he maintained and even increased his XRP holdings. He noted, “XRP/BTC and XRP/ETH both just printed and confirmed bull divs on the [three-day chart].”
This technical analysis term, bullish divergence, suggests an upward price trajectory for an asset even amidst sideways or downward price action.
Credible Crypto believes this indicates an imminent period of relative outperformance for XRP. His target for the XRP/BTC pair is 0.0000356 BTC ($2.55), representing a potential increase of approximately 250%.
Still in the position on $XRP from below and just added on to it for a third time, averaging up.
XRP/BTC and XRP/ETH both just printed and confirmed bull divs on the D3.
That window of outperformance that I discussed in my last update video on $XRP (here:… https://t.co/4MuJTRmcNd pic.twitter.com/wZjtKJyzec
— CrediBULL Crypto (@CredibleCrypto) March 12, 2024
Ethereum Outlook
The analyst also expressed optimism regarding Ethereum’s immediate future, predicting a continued rally before an eventual price correction. He explained that following Bitcoin’s recent touch of its all-time high, market focus will inevitably shift towards Ethereum following suit.
Credible Crypto advises potential Ethereum investors that a short-term pullback to around $3,600 -$3,700 is possible, but cautioned that this anticipated dip is likely to be highly sought-after by traders.
Reacting to the possibility of a potential Dip in Ethereum’s price, an X user, Blast News, expressed his anticipation and doubt saying, “Haha, don’t worry, everyone on the sidelines is practically refreshing their ETH wallet every 5 seconds hoping for that magic dip that never comes. Maybe ETH will just channel its inner Beyoncé and say “Flawless” to any pullback attempts?”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Credible Crypto Says XRP Is Ready To Take Out Next Resistance, Sets Price Target
Credible Crypto’s ETH Price Target
When asked by BTPanda, a Crypto enthusiast, what his price target for ETH was in this Cycle, the analyst maintained a bullish stand on Ethereum’s long-term prospects, foreseeing it to reach a jaw-dropping price of $10,000 or even possibly $20,000 in the current market cycle.
According to CoinMarketCap’s data, ETH is trading at $3,892, achieving the $10,000 and $20,000 price targets set by Credible Crypto would translate to a 157% and 414% increase, respectively.
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