Credible Crypto Draws Key Levels For XRP, Which Looks Ready To Gain More
According to a top crypto analyst and trader, known as Credible Crypto, XRP is showing signs of gearing up for another phase of its rally towards the next major resistance level.
In a week XRP has gained over 45% and is currently trading at $0.8772.
XRP/BTC
The crypto analyst shared with his 307.7K followers on Twitter that XRP/BTC could be signaling a formation of a new market structure.
“That is the strongest daily candle we have seen on XRP/BTC in 6 months. We have broken our falling wedge downtrend line and a key cluster of resistance. May have avoided the breakdown I was concerned about. Will get more confirmation in the coming days if this move is legit.”
That is the strongest daily candle we have seen on XRP/BTC in 6 months. We have broken our falling wedge downtrend line and a key cluster of resistance. May have avoided the breakdown I was concerned about. Will get more confirmation in the coming days if this move is legit. $XRPpic.twitter.com/wW4GdizlZ1
Credible Crypto then looks at the weekly XRP/USD chart to get validation for his bullish scenario. The analyst projects a slight correction coming before a breakout to $1.00 and then eventually $1.60.
“Now that a couple of days have passed- this is what I would like to see (and expect) moving forward- as long as .70-.80 is held I expect continuation to the upside.”
Now that a couple of days have passed- this is what I would like to see (and expect) moving forward- as long as .70-.80 is held I expect continuation to the upside. $XRPhttps://t.co/AfXDIFJ4Bbpic.twitter.com/uTOduJw8qs
The analyst then looks into the leading digital asset, Bitcoin (BTC). He notes that BTC could correct around 10% and then continue its uprise towards $50,000.
“Now that we are at monthly resistance we may see a pullback. Even if we do, a higher low to $38-$40k would be ‘healthy’ followed by continuation to 50k and a reclamation of our monthly resistance after which point I’ll have my sights set on a new ATH.”
Now that we are at monthly resistance we may see a pullback. Even if we do, a higher low to 38-40k would be "healthy" followed by continuation to 50k+ and a reclamation of our monthly resistance after which point I'll have my sights set on a new ATH. $BTChttps://t.co/IVPyU9HhAGpic.twitter.com/IHq76xFj16
At the time of writing, Bitcoin is trading at $44,190.
Curve (CRV)
Credible Crypto is also updating decentralized exchange (DEX) and automated market maker (AMM) protocol Curve (CRV), which he projects a rally towards $7 around mid-2022, after it’s able to clear resistance at $4-$5 levels.
“CRV perking up a bit. As per my last update if we keep pushing the $4-$5 region is resistance. Reclaim that and we get confirmation the bottom is in. I still expect the GREEN path to play out- that is an initial rejection, some consolidation for a higher low, THEN our breakout.”
$CRV perking up a bit. As per my last update if we keep pushing the $4-$5 region is resistance. Reclaim that and we get confirmation the bottom is in. I still expect the GREEN path to play out- that is an initial rejection, some consolidation for a higher low, THEN our breakout. https://t.co/nY1oXO8gS8
