A widely followed cryptocurrency analyst believes that XRP for payment altcoins is gearing up for a run to a new all-time high.
The analyst, pseudonymously known as Credible Crypto tells his 453,500 followers on social media platform X, which is the third-largest digital asset by market cap, just shattered his immediate resistance.
According to the trader, this move puts XRP in a position to soar to a new all-time high.
‘We may be dealing with an outbreak here. Swing and spot positions look great here and we’ll just keep letting these ride to a new ATH (all-time high). We will again actively look for lung injections on the scalp now that we have removed the local resistance. “
XRP is trading at $2.53 at the time of writing, about 25% below the all-time high of $3.40 reached seven years ago.
So does the pseudonymous analyst say that XRP could outperform other crypto assets, as it has done in the past.
“XRP has a habit of running on itself and leaving everything else in the dust once it gets going.
Those who have been here since 2017 are witnessing these moments.”
While Credible Crypto is bullish on the third largest digital asset by market cap, the merchant sees the native token of the stablecoin-focused decentralized exchange Curve DAO (CRV) that may outperform XRP in the short to medium term.
“So we’ve moved deeper into the green zone – meaning it’s still possible we see a bullish shift on CRV/XRP here in the short/medium term. If not, we’ll hit new lows – implying XRP is definitely headed higher.
The good thing about holding both CRV and we have identified at the peg of the US dollar.
CRV is trading at $0.811 at the time of writing.
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Generated image: Midjourney