A closely followed crypto analyst says that XRP may be ready to steal the show after holding strong macro support during the latest market-wide pullback.
The pseudonymous strategist known as Credible Crypto tells his 295,000 followers that Bitcoin (BTC) looks great and won’t face any real tests until the $45,000 mark, which is about $3,000 above BTC’s current price.
“BTC looks great here. Not much in terms of resistance until $45,000+. Expecting upside across the board in the coming days as long as the green region is held (which I expect it will be).”
The analyst then says that XRP has been holding up stronger than the leading crypto asset by market cap and could be ready to finally surge upwards.
“While BTC recently swept our wick lows at $42,000 and Ethereum dumped even further below its own, XRP has held up incredibly well through this correction and has not gotten close to its own wick lows. Path of least resistance seems to be Up. All eyes may be on XRP soon.”
In August of last year, Credible said that he was expecting XRP to finish off the bull market somewhere between $20 and $30, and he says that target still stands. The analyst says current prices could serve as the launchpad for a parabolic uptrend, given that XRP bears look like they’re starting to lose conviction.
“My expectation is we head up. Path of least resistance is a way of saying sellers seem exhausted and the market seems to think XRP is a better buy here then a sell, hence price should go up.”
XRP is exchanging hands $0.777 at time of writing, an 7% increase from its seven-day low of $0.724
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
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 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/wacomka
Source: https://dailyhodl.com/2022/01/16/bitcoin-looking-great-but-xrp-may-soon-take-the-spotlight-says-top-crypto-analyst/