Wednesday, May 5, 2021

XRP Price: Credible Crypto Shares What Next To Expect After Current Massive Rally

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.

Read Also: Ripple Opens Headquarters in United Arab Emirates amid Consideration of a Move Away From United States

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.”

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.

Read Also: Japan’s Top Securities Regulator Says XRP Is Not a Security

“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.”

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.”

Read Also: Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

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.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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