XRP could be on the heels of one of the biggest rallies its ever had, according to a closely-followed crypto trader (Crypto Analyst). In a new strategy session, the pseudonymous trader known as Credible Crypto says he believes XRP is destined to reach somewhere between $20-$30 this bull cycle its almost 2300% growth.
Looking opportunity of 2300% Growth of XRP Soon
Looking at XRP’s abrupt 1000% rally in 2017, the trader posits that something similar could happen in the current bull cycle.
“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month…
Something similar can be expected here. I think if we can break the all-time high within the next few months then we’re easily going to go – 3 to 5X is very reasonable. Again, in 2017 we went 10X. 3 to 5X is easy. $10.00 minimum is where I’l consider taking profits.”
According to Credible Crypto, once XRP breaks its all-time highs of $3.40, the token will go into an explosive price discovery phase that could end up as high as $30.00.
Based on current prices, the trader’s target for XRP implies a 2319% increase from current prices.
“We have a ways to go is what I’m getting at here. Again, my targets for XRP as I’ve said many many times, stand at $20 to $30 at the end of this bull cycle, whether that be six months or a year for now.
That is my target. Things will get exciting, things will accelerate aggressively after we break all-time highs. The hardest part is getting back to all-time highs. As we break all-time highs there’s no sell pressure above and it becomes very easy to climb the ranks and to get higher and higher.”
Altcoins corresponding to XRP, Ethereum Traditional and Enjin weren’t fast to reflect Bitcoin and Ethereum’s upward development. These altcoins continued to show indicators of consolidation. XRP failed to check the $1.31 fast resistance mark, ETC’s motion remained sandwiched between $71.96 and $65.48 respectively. Enjin had recorded a multi-month excessive just lately, nonetheless, its uptrend was disrupted because it solely famous a 0.5% enhance within the final 24 hours.
Ripple versus XRP: two become one
Technically speaking, Ripple is not a cryptocurrency. Renamed from a protocol called Open Coin in 2013, Ripple facilitates open-source payments. XRP, on the other hand, is the cryptocurrency that runs on this network. In that sense, Ripple and XRP have a similar symbiosis to each other like the Ethereum network and its cryptocurrency Ether. Unlike Ethereum – whose price changes are connected to the world of Decentralized Finance or DeFI – Ripple/XRP mostly looks at developments on cross-border payments for companies. In 2020, companies worldwide began to favor fintech solutions for future B2B solutions and, in a way, Ripple is an extension of that.
What affects the price of Ripple?
Ripple is mostly active in Southeast Asia – a region with a splintered payment landscape and that heavily investigates its own types of state-issued cryptocurrency to make cross-border payments a lot easier. Price spikes tend to follow after news on this topic in this specific region. In 2019, for example, the XRP price grew after Japan and South Korea began testing to reduce time and costs for transferring international funds between the two countries. In March 2021, Ripple announced that it had agreed to acquire 40 percent of Malaysian cross-border payments firm Tranglo to meet growing demand in Southeast Asia.
Prominent crypto strategist and trader Michaël van de Poppe is keeping a close watch on XRP, Litecoin and two other altcoins that he says are close to waking up.
In a new strategy session, the analyst tells his 116,000 YouTube subscribers that XRP is poised to rally and print a new all-time high.
When you look at the USDT values of XRP, you can actually derive Fibonacci extension to make the next target zone. So when we do that by Fibonacci retracement, and we do it like this, we get $2.85 and $4.30 as the next target zones for XRP in the next impulse wave. If we do it from the previous cycle, we can also say that we’ve hit the 2.618 [Fibonacci zone]. So most likely, in the next run up, XRP will go to $4.30.”
According to Van de Poppe, XRP is mirroring its price action from December 2020 to April of this year when the sixth-largest crypto asset surged over 1,052% from $0.17 to $1.96.
HODL = HOLD
“HODL” is a cryptocurrency-related slang that stands for the word “hold” misspelled. It often refers to retaining crypto assets that you own for an extended period, even throughout a highly volatile market movement. “Hodl” is meant to encourage people to not impulsively sell when a cryptocurrency drops dramatically or rises to become highly profitable to sell.
“HODL” also acts as an acronym for “Hold on for dear life.” You will often see the term in various cryptocurrency forums and social media circles. Some influencers even encourage their followers to “hodl” various crypto tokens as part of their long-term strategy.
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