Analyst Says XRP About To Outperform Crypto Market, Sees Rallies for Ethereum (ETH) Before Big Pullback

A closely followed crypto strategist thinks that the payments network XRP is gearing up to witness a big move to the upside.

Pseudonymous analyst Credible tells his 380,200 followers on the social media platform X that XRP is about to enter a phase when it outperforms Bitcoin (BTC), Ethereum (ETH) and the broader crypto market.

According to the analyst, XRP appears to be flashing a bullish reversal signal against Bitcoin (XRP/BTC) and Ethereum (XRP/ETH).

“Still in the position on XRP from below and just added on to it for a third time, averaging up.

XRP/BTC and XRP/ETH both just printed and confirmed bull divs on the [three-day chart].

That window of outperformance that I discussed in my last update video on XRP may be right around the corner.” 

Image
Source: Credible/X

A bullish divergence suggests that an asset is gaining bullish momentum even if the price continues to drop or trades sideways.

As for his price target, Credible thinks that the XRP/BTC pair can go up by about 250% from current levels, suggesting a move toward 0.0000356 BTC ($2.55).

At time of writing, XRP/BTC is trading at 0.00000958 BTC ($0.68).

The trader is also bullish on ETH. Credible predicts that Ethereum will continue rallying before witnessing a significant retracement.

“With BTC having now tagged its prior all-time high, everyone knows that ETH is inevitably next.

If you’re on the sidelines at the moment, you’re hoping for a wick to $3600-$3700, but so is everybody else.

Would not surprise me to see ETH simply keep pumping another 25%+ to the upside before any significant pullback.” 

Image
Source: Credible/X

Credible also says that he sees Ethereum tagging the five-figure price level during this market cycle.

“$10,000+ minimum, I think $20,000 or thereabouts is feasible though.” 

At time of writing, Ethereum is trading for $3,983.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

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.

Generated Image: Midjourney

The post Analyst Says XRP About To Outperform Crypto Market, Sees Rallies for Ethereum (ETH) Before Big Pullback appeared first on The Daily Hodl.

Stay up to date

on all important crypto news!

The most important news, once a week. No spam.