CrediBull Crypto (@CredibleCrypto), a well-known cryptocurrency analyst, has provided an updated outlook on the XRP/ETH trading pair, waiting for a temporary correction before further upward movement.
After accurately predicting a 250% rally for XRP against Ethereum late last year, the analyst now expects a pullback in the short to mid-term.
In early March, CrediBull Crypto noted that the trading pair had reclaimed and retested a 4-year-long range, reaching a level not seen since 2021 and setting the stage for a significant rally. The asset accomplished this feat around the same time as the dismissal of the Ripple lawsuit, but its progress has stalled.
CrediBull Crypto has observed multiple bearish divergences on the chart, signaling a potential correction. In his update from early March, he acknowledged that the digital asset had reached range highs following a substantial rally and stated that it could experience a pullback against ETH soon.
The analyst also highlighted the relationship between XRP and Ethereum’s broader market positioning. He noted that XRP is likely to “tag range lows at $1.60-$1.80” while Ethereum remains in a massive higher timeframe demand zone. This suggests that ETH may perform better in the short term.
The accompanying chart provided by CrediBull Crypto outlines a projected price movement in which XRP/ETH corrects further before resuming its upward trend. The expected decline would allow the market to reset before XRP continues its next major impulse move.
Despite the anticipated pullback, CrediBull Crypto remains optimistic about XRP’s long-term trajectory. The correction is viewed as a natural phase within a broader bullish cycle, with further upside expected once the market stabilizes.
Commenting on the upcoming decline, he stated, “If we do, nothing to be concerned about,” reinforcing confidence in the digital asset’s future performance. While Ethereum is expected to see stronger short-term momentum, the long-term outlook for XRP remains positive, with a potential continuation of its upward trend once the correction phase concludes.
One important factor that could aid XRP’s recovery is the recent market trend of investors dumping ETH for the digital asset. Another well-respected analyst recently drew attention to this phenomenon as the massive outflow caused ETH to fall below a crucial resistance level, and more investors dump the asset, it could fall further, giving XRP space for a swift recovery.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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