A high-profile analyst is doubling down on his massive XRP bet for this bull cycle even if the seventh-largest crypto asset is showing signs of uncertainty.
Pseudonymous analyst Credible Crypto tells his 220,700 Twitter followers that he believes XRP could be bottoming out against Bitcoin (XRP/BTC) as it finds support around 0.000015.
“Some calling for new lows on XRP/BTC. While it’s technically possible I think a reversal off this region makes more sense, considering XRP/USD is on major historical support.”
The closely-followed crypto strategist also confirms that he’s holding strong on his massive bet that XRP will hit $20 – $30 before the end of this current bull cycle.
Veteran trader Peter Brandt does not believe a bullish move is on the horizon for XRP at present.
Brandt shared his own XRP/BTC analysis on Twitter this week, calling for potential all-time lows, as the asset sets up a head and shoulders top pattern, which would send the pair into a free fall.
“Is Ripple about to turn into a tidal wave??? XRP/BTC is forming a head and shoulders top pattern –completion of same would set target at all-time-lows.”
XRP is trading at $0.648 at time of writing, down nearly 30% over the past 30 days.
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