XRP could be on the heels of one of the biggest rallies its ever had, according to a closely-followed crypto trader.
In a new strategy session, the pseudonymous trader known as Credible Crypto says he believes XRP is destined to reach somewhere between $20-$30 this bull cycle.
Looking at XRP’s abrupt 1000% rally in 2017, the trader posits that something similar could happen in the current bull cycle.
“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month…
Something similar can be expected here. I think if we can break the all-time high within the next few months then we’re easily going to go – 3 to 5X is very reasonable. Again, in 2017 we went 10X. 3 to 5X is easy. $10.00 minimum is where I’l consider taking profits.”
According to Credible Crypto, once XRP breaks its all-time highs of $3.40, the token will go into an explosive price discovery phase that could end up as high as $30.00.
Based on current prices, the trader’s target for XRP implies a 2319% increase from current prices.
“We have a ways to go is what I’m getting at here. Again, my targets for XRP as I’ve said many many times, stand at $20 to $30 at the end of this bull cycle, whether that be six months or a year for now.
That is my target. Things will get exciting, things will accelerate aggressively after we break all-time highs. The hardest part is getting back to all-time highs. As we break all-time highs there’s no sell pressure above and it becomes very easy to climb the ranks and to get higher and higher.”
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/ sergeysan1