An analyst who accurately predicted XRP’s recent bounce from a low of about $0.22 says he expects the third-largest cryptocurrency to continue moving to the upside.
At time of publishing, XRP has bounced back to the $0.33 level. It remains well below its price of $0.57 on December 20th, before the SEC announced it had filed a lawsuit against Ripple accusing the company of selling the digital asset as an unregistered security.
After calling this week’s bounce, analyst Credible Crypto says he believes XRP has more room to rise against Bitcoin (BTC).
“If you got excited seeing the last XRP pop, you’re gonna love this next one. The start of our major reversal against BTC. This is the BTC pairing, but it should correlate with a move to $0.40-$0.50 on the USD pairing that I have been talking about in my recent update videos.”
Fellow analyst Michaël van de Poppe is less bullish on XRP. He says the cryptocurrency is facing a major wall of resistance at the $0.34 level.
“XRP needs to crack this significant resistance zone to be able to continue the upward push. If that doesn’t occur, more consolidation is required.”
As for Bitcoin, both Van de Poppe and Credible Crypto believe a peak of $300,000 this cycle is possible.
Credible Crypto expects Ethereum and many altcoins to outperform BTC from this point forward.
“Will be selling a lot of spot BTC buys from $10,000 as we approach $50,000 to funnel more funds into altcoins. I have $300,000 as a MAX on BTC in this cycle. That is 6x from $50,000.
I fully expect most altcoins to outperform [BTC] from here. Even majors like ETH will easily eclipse 6x from current levels.”
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxFollow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/IM_VISUALS
