A crypto strategist known for his timely altcoin calls thinks XRP is within the realm of possibility to hit his massive price target.
Pseudonymous analyst Credible tells his 434,700 followers on the social media platform
But the trader emphasizes that the path to a new all-time high for XRP/BTC will not be easy as the pair still needs to overcome two solid resistance levels.
“The red zone is a major resistance – there’s a good chance we’ll see some resistance there on this push – that being said it’s a huge region/zone so XRP could push the USD peg significantly higher before we take a breather (1.50-$2)…
Flipping the red dotted line above the red zone and establishing it as support is what we want to see going for new ATH. That is THE most important level on this entire map.”
According to the crypto strategist, breaking the red dot resistance at 0.0000399 BTC will position the pair to soar to new all-time highs, which he believes would bode well for XRP/USD.
“If/when we turn that around to support, double digits [XRP/USD] probably coming soon… At current BTC prices, a new ATH on XRP/BTC would easily take us above $20. That said – you’ll have to be patient – we need to clear the red zone and turn around the level above before we can think about that, and that could take some time.”
At the time of writing, XRP/BTC is trading at 0.00001196 BTC ($1.10).
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Generated image: Midjourney