A popular crypto strategist is predicting rallies for XRP and one decentralized finance (DeFi) altcoin and says that Bitcoin (BTC) will likely take a breather.
Pseudonymous analyst Credible tells his 308,400 Twitter followers that he sees XRP bouncing and reclaiming the $1.00 level.
“We are now right in my area of interest. Might head a few cents lower than where we are now but as per my last tweet, I expect we form a bottom/higher low in this region and continue up. XRP.”
At time of writing, XRP is trading at $0.83, up over 6% in the last 24 hours. A move to Credible’s $1.00 target indicates an upside potential of over 20% from XRP’s current price.
The crypto trader is also bullish on Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. Credible says it is possible for HBAR to bounce off support at $0.22 and rally to his short-term target above $0.26.
“Since my last update, we pushed into weekly supply and are now seeing a pullback. As stated, we need to reclaim this region to confirm a bottom. I would like to see us hold the $0.22-$0.23 region and then make another attempt at reclaiming the weekly supply. HBAR.”
As for Bitcoin, Credible says that he’s still bullish on BTC even if it goes slightly below $40,000.
“We wicked into the $45,000-$47,000 region putting in a local higher high and now look to be correcting as expected. Not sure how deep this pushes but anything down to $38,000-$39,000 would be fine in my opinion.”
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
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 losses 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/Tithi Luadthong
