XRP Has Most Bullish-Looking Chart in Entire Crypto Space, According to Analyst – Here’s Why
A widely followed cryptocurrency analyst and trader is leaning bullish on XRP .
The analyst pseudonymously known as CredibleCrypto tells his 450,200 followers on the social media platform X that paired against Bitcoin ( BTC ), XRP “looks absolutely fantastic.”
The trader says he plans to enter a long position in the coming days.
Based on the analyst’s chart on the one-hour time frame, it appears he is suggesting that XRP could first trend downwards before skyrocketing by at least 65%.
It also appears that the analyst believes XRP has formed an inverse head-and-shoulders pattern in the same time frame. An inverse head-and-shoulders pattern is considered a bullish signal in technical analysis.
“Still the most bullish-looking chart in the entire space off the lows in my opinion. Just a powder keg building pressure…”
Source: CredibleCrypto/X
XRP is trading at 0.00002323 BTC ($2.28) at time of writing.
Next up is Ethereum ( ETH ). CredibleCrypto says that ETH is likely to trade in a range of between $3,000 and $3,800 before bottoming out at around $2,800.
Based on the pseudonymous analyst’s chart on the 12-hour time frame, he suggests Ethereum could then rally to a new all-time high above $6,000.
Source: CredibleCrypto/X
Ethereum is trading at $3,492 at time of writing.
Turning to the Ethereum/Bitcoin pair, the widely followed analyst says he is still targeting Ethereum to drop to around the 0.02700 BTC to 0.02800 BTC level before he can enter a long position. According to CredibleCrypto, ETH/BTC is now “grinding back down” after initially rallying.
“Would be an absolutely epic entry if we get it that will probably mark this cycles pico bottom on ETH/BTC as well.”
Source: CredibleCrypto/X
ETH is trading at 0.03542 BTC at time of writing.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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