One cryptocurrency trader and analyst highlights a large-cap altcoin he believes is massively bullish.
According to charts, Credible Crypto, an analyst who goes by the pseudonym Credible, tells 65,700 subscribers on YouTube that the digital currency XRP, which is primarily focused on payments, has the strongest market structure in the crypto world.
It is one of the very few coins that prints a bullish impulse structure in all timeframes, whether it is on the lower, higher or every frame. It is very cleanly identifiable.
“That’s what we see here on XRP, is that clean price action which shows an impulsive movement.”
According to the pseudonymous expert, who uses the Elliott Wave Theory in his analysis regularly, XRP’s price could increase by 1,295%.
Technical analysis based on the Elliott Wave Theory suggests that an asset in bullish trend will experience a five wave rally, before experiencing a 3-wave correction.
Said Credible
I do believe XRP is preparing for the next upward impulse after the first one which started at $1.28. This next impulse upwards should… lead us to new highs of $4 and beyond.
It’s exciting to think that this would only be the third wave of a much larger move in the third wave that should eventually take us up to at least $5. By the time this fifth wave is underway, we should have already reached double-digits. This fifth wave takes us up to the blow off top, or final peak of between $20 and $30 .”
At the time of this writing, XRP was trading for $2.15.
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Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, the post This Top-10 Crypto asset is ‘Probably The Most Bullish Altcoin’ Right Now And Could Rally 1,200%+ Says Analyst could be updated.
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