Kaleo, a pseudonymous analyst and trader, is predicting a bullish price trend for XRP, the 6th largest cryptocurrency by market cap, which he expects to outperform the flagship crypto Bitcoin (BTC).
The widely-followed analyst tells his 590,000 Twitter followers that he sees a bullish continuation for XRP after successfully retesting its diagonal resistance as support.
“XRP/USD low timeframe looks ready for another leg up as well.”
$XRP/USD LTF looks ready for another leg up as well pic.twitter.com/BAMou79pmW
— K A L E O (@CryptoKaleo) June 2, 2023
Read Also: Ripple Returns Whooping 900 Million XRP after Unlocking 1 Billion Tokens from Escrow: Details
According to Kaleo in the same thread, XRP could be following in the footsteps of Tron (TRX), which recently rallied from a low of $0.74 to a high of $0.85.
“For reference here’s what TRX just did. A similar squeeze could send XRP to $0.60+.”
For reference here’s what TRX just did.
A similar squeeze could send XRP to $0.60+ pic.twitter.com/MfKFsAzsAh
— K A L E O (@CryptoKaleo) June 2, 2023
At the time of press, XRP is trading for $0.5369, with an 11.3% price surge in the last seven days, According to CoinMarketCap.
Analyzing XRP against Bitcoin (XRP/BTC), Kaleo pointed out that the pair also looks poised to surge after breaking above its diagonal resistance.
“XRP/BTC pair looks primed for a squeeze as well.”
$XRP / $BTC pair looks primed for a squeeze as well pic.twitter.com/BKfh5WavtL
— K A L E O (@CryptoKaleo) June 2, 2023
Read Also: Forbes: Ripple CEO’s Confidence is Aiding XRP to Outperform Bitcoin (BTC)
Meanwhile, fellow crypto strategist Cantering Clark is also bullish on XRP. In one of his recent tweets, the trader said he’s looking to accumulate XRP as he believes its price structure suggests that it is almost ready to surge.
“Not really looking at a whole lot of charts lately, but not gonna lie, between the weird spot bid and the launchy looking setup, I think I need to start TWAPing (time-weighted average price) XRP.”
Not really looking at a whole lot of charts lately, but not gonna lie, between the weird spot bid and the launchy looking setup I think I need to start twap’ing $XRP
— HORSE (@TheFlowHorse) June 2, 2023
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