A widely-followed analyst and trader is convinced that XRP will leapfrog three large-cap digital assets en route to reclaiming its place as the third-largest cryptocurrency by market cap.
In a new tweet, the trader known as Credible Crypto tells his 146,400 followers that XRP has ignited its long-awaited uptrend after taking out resistance at $0.56 and retesting it as support.
[adinserter block="1"]“Red resistance region cleared, backtested nicely on the daily, looks good to go. XRP you are cleared for takeoff.”
Hours after Credible Crypto’s tweet, XRP launched a massive bull rally that catapulted Ripple’s native asset to a three-year high of $0.93.
Amid the big breakout, XRP now has the momentum to jump over Polkadot (DOT), Tether (USDT), and Binance Coin (BNB) and become the third-largest crypto asset by market cap, according to Credible.
“Lol just watch how quickly XRP makes it back to the top 3.”
Credible takes his bullish call a step further and says that it is within the realm of possibility for XRP to dislodge Ethereum as the second-largest crypto asset.
I don't see why it wouldn't be possible.
— CrediBULL Crypto (@CredibleCrypto) April 5, 2021
For XRP to follow Credible’s script, its market cap of $39.5 billion must increase over 45% in order to eclipse the $57.5 billion valuation of BNB, which is currently sitting at number three. To overtake Ethereum’s $246.6 billion market cap, XRP’s valuation must grow by at least 526%.
At time of writing, XRP is trading $0.87, up over 26.8% in the last 24 hours according to CoinGecko.
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Featured Image: Shutterstock/Sergey Nivens
