Prominent Analyst Says XRP Ready for Long-Awaited Rally As Bitcoin and Ethereum Bottom Out
A closely-followed crypto analyst and trader believes that XRP is set to launch its long-awaited bull rally.
In a new tweet, Credible Crypto tells his crew of 67,000 that the fourth-largest cryptocurrency has finally bottomed out and it is now poised to ignite its bull run.
— Credible Crypto (@CredibleCrypto) September 18, 2020
While Credible Crypto is bullish on XRP, he believes that both Bitcoin (BTC) and Ethereum (ETH) have more downside potential. The trader thinks that Bitcoin will plunge below $10,000 before it breaks a key resistance level.
“Upper gap filled. Are gap fills ‘required?’ No. Do I think we are going to fill the lower one soon? Yes. When? Before we break the local highs at 12k. $BTC.”
As for Ethereum, the crypto analyst is keeping close tabs on the ETH/BTC pair as it approaches his price target.
“The ETH/BTC pairing is progressing beautifully to the target I outlined in my last Youtube video on ETH. While my ultimate target for ETH/BTC is lower still, I suspect we may see some relief in the coming days. If BTC can hold 10.5-10.6k, we may see some relief on ETH/USD also.”
The trader is also excited to see that ETH/BTC continues to follow his script.
— Credible Crypto (@CredibleCrypto) September 17, 2020
Looking at the short-term price action, the prominent analyst believes that ETH and BTC bears will dictate the momentum over the weekend.
“I think the next few days are filled with chop/slight drops for majors like $BTC and $ETH while other alts that have been pummelled see some relief.”