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.”
Featured Image: Shutterstock/Tithi Luadthong