A top cryptocurrency analyst, popularly known on Twitter as Credible Crypto, has stated that the fourth-largest digital currency by market capitalization, XRP, is gathering strength for an unstoppable bull run.
The top analyst shared this with his teeming followers on 17th November 2020. According to Credible Crypto, the Ripple’s digital token XRP will experience price pullback during the next huge correction of Bitcoin (BTC), but may not be affected as much as other altcoins.
Credible Crypto tweeted, “Despite what your favorite “influencer” keeps telling you about XRP being “dead”, the correction we saw on XRP was perfectly healthy. RSI tells a story, pay attention to it. Selling XRP now is like selling BTC when it was at $197- before it ran to 20k.”
Despite what your favorite "influencer" keeps telling you about $XRP being "dead", the correction we saw on $XRP was perfectly healthy. RSI tells a story, pay attention to it. Selling $XRP now is like selling $BTC when it was at $197- before it ran to 20k. pic.twitter.com/kqwUX440vt
— Credible Crypto (@CredibleCrypto) November 17, 2020
He further added that “Many alts will dump hard but XRP/BTC is on support so it may not be affected as bad as other alts.”
A supposed XRP community member asked to know his stance regarding the possibility of XRP rising 100 folds. The analyst responded affirmatively that he has a $25 to $30 price target for the digital currency.
Between Credible Crypto and Alex Saunders
In response to Credible Crypto’s assertion, Alex Saunders, the CEO and Founder of Nugget’s News, said he loves trading XRP, but its performance year-to-date is dissuading:
“I don’t think it’s dead & I actually love trading XRP, but it’s the worst performer in the top 10 in this cycle at a time when dozens of projects are gaining traction & printing record highs. I’m astonished it’s being used in Mexican corridors & yet price is still down 90%.”
Responding to Saunders viewpoint, Credible Crypto said the present price action of XRP that seems lethargic provides an investment opportunity with relatively lower risk than other less-established cryptocurrencies.
Expect Price Pullback of Bitcoin (BTC)
As for Bitcoin (BTC), the analyst says he believes a correction is coming after the historic rally of the leading cryptocurrency, but is not yet time for a reversal. He posited that BTC may attain a new all-time high before the predicted pullback:
“Our 3rd subwave looks complete, but we still have our 4th and 5th (blow-off top) to go [in my opinion]. Crazy to say this, but I think we are going to break ATH in the coming days. Incredible…
“Parabolas never end well, and when this one breaks we will likely see a 30-40% correction. That being said, it’s not time for that…yet.”