An expert in cryptocurrency analysis and trading is pointing out a major altcoin that he believes is showing strong bullish signals.
In a recent video, the analyst, known as Credible Crypto, shared with his 65,700 YouTube followers that XRP, a digital asset focused on payments, has one of the most positive market structures in the crypto space based on the charts.
“[XRP] is currently one of the most bullish altcoins in the market…
XRP stands out as one of the few coins displaying a clearly bullish impulsive structure across multiple time frames. This strong and easily identifiable pattern is evident on every time frame, indicating significant upward movement.”
The analyst, who frequently uses the Elliott Wave theory in his technical analysis, predicts that XRP could surge by as much as 1,295% from its current price level.
According to the Elliott Wave theory, a bullish asset experiences a five-wave rally before a corrective three-wave pattern occurs.
Credible states,
“I believe that XRP is preparing for the next upward impulse after the initial one that began at $1.28. This upcoming impulse should propel us to $4 or higher, reaching new all-time highs.
What’s exciting is that this would only be the third sub-wave of a larger third-wave movement that is expected to take us to $5 or more. As we approach the final fifth wave, I anticipate that we would have reached double-digit figures. This final wave will lead us to the peak or final top at $20 to $30.”
XRP is currently priced at $2.15.
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