A popular cryptocurrency analyst and trader popularly known as Credible Crypto has recently updated his short term prediction for the fourth-largest cryptocurrency by market cap, XRP.
According to Credible Crypto in a new tweet, the digital token XRP is not done with its massive uptrend following its rise to a 30-day high of 0.50.
So I suspect we get our monthly close above $0.305 which would establish that level as HTF (high timeframe) ‘floor’ so then maybe a retest/consolidation above to digest this move and then continuation.”
So I suspect we get our monthly close above .305 which would establish that level as HTF “floor” so then maybe a retest/consolidation above to digest this move and then continuation.
— Credible Crypto (@CredibleCrypto) January 30, 2021
Earlier this month, when XRP was trading at around $0.3, the trader predicted that XRP would surge to a resistance around $0.50 and embark on consolidation before resuming its price upside trend.
“For those who still have concerns about XRP, the best time to diversify would be in the $0.45-$0.50 region. This is the most logical place to expect a rejection if you think XRP is ‘dead.’ If/when we get past this region odds [that] we go much higher increase dramatically.”
For those who still have concerns about $XRP, the best time to diversify would be in the .45-.50 region. This is the most logical place to expect a rejection if you think $XRP is "dead". If/when we get past this region odds we go much higher increase dramatically. pic.twitter.com/NiHsSxkrNO
— Credible Crypto (@CredibleCrypto) January 10, 2021
Despite the dangling securities lawsuit against Ripple, Credible Crypto believes that XRP has the potential to print a new all-time high.
“I expect XRP to make a new all-time high regardless of the status of the case. Of course, a settlement would be great and probably accelerate price appreciation but I don’t think XRP will ‘wait’ for the case to be resolved. Demand remains strong outside the US in my opinion.”
The United States Securities and Exchange Commission (SEC) alleges Ripple, the cross-border payment firm, of selling XRP as an unregistered security for seven years and says the payment firm paid companies to use its payment products.
XRP caught the attention of crypto traders after printing a strong rally, recording over 50% within 24 hours. At the time of writing, XRP is priced at $0.4694, with about an 8% price uptrend in the last 24 hours.