A cryptocurrency analyst focused on an altcoin that has great potential in the markets. Anonymously known as Credible Crypto, he conveyed to his YouTube subscribers that XRP has a very optimistic structure based on the charts. XRP attracts attention as a payment-oriented digital asset.
Technical Analysis and Elliott Wave Theory
Credible Crypto often uses Elliott Wave theory in its technical analysis. He stated that XRP could increase up to 1,295% from its current level. Elliott Wave theory suggests that a five-wave move in an uptrend is followed by a three-wave correction.
The analyst said that he expects XRP to start rising at $1.28 and then reach $4 and new all-time highs. He stated that this rise will be part of the third subwave of a larger move, eventually reaching a top between $20 and $30.
Market Structure
Credible Crypto emphasized that XRP exhibited a clear and clean bullish structure in every time frame. Even on short-term charts, these upward movements can be easily identified. He stated that XRP’s price movements show the same clarity in higher time frames.
“XRP could possibly be the most optimistic altcoin in the space right now…” – Credible Crypto
XRP is trading at $2.15 at the time of writing. The analyst warned that it will continue to strengthen above this level and warned users to be careful.
Credible Crypto stated that if the market supports this rise, it can offer significant opportunities for investors. He stated that XRP is in a technically strong position and has further upside potential in the future.
Despite the fluctuations in the cryptocurrency markets, it seems that XRP continues to attract attention with its solid technical fundamentals and positive market structure. Investors can make more informed decisions by acting in line with such analyses.
Technical analysis tools and resources are gaining importance for those who want to learn more about XRP and follow market developments. Analysts’ forecasts can provide valuable insights for investors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
