Prominent cryptocurrency analyst Credible Crypto has reaffirmed his prediction for XRP, revealing he believes the cryptocurrency is due for a massive breakout in the near future based on its price chart.
As the Daily Hodl reports, Credible Crypto shared charts with his over 250,000 followers on social media that XRP’s price structure is very similar to that of the native token of data-sharing protocol OriginTrail, TRAC, which rallied over 200% after being listed on Coinbase.
Credible Crypto expects XRP’s price to move in a similar way, potentially moving past its previous all-time high above $3.4.
As CryptoGlobe reported, the analyst has been bullish on the cryptocurrency for months now. In June, Credible Crypto predicted the price of XRP was likely near a bottom when trading against BTC and saw it outperform the flagship cryptocurrency in the near future.
In August, the pseudonymous analyst revealed he expected the price of XRP to trade between $20 and $30 later this cycle. His prediction was based on XRP’s abrupt 1,000% surge in the 2017 rally when it moved to a new all-time high above the $3 mark.
Credible Crypto also looked at Ethereum’s recent breakout against BTC, and suggested the cryptocurrency’s next leg up will kick off a new altcoin season. Credible Crypto noted that he thinks Bitcoin’s dominance, or its share of the crypto market, may have topped out for now, which would mean altcoins are set to outperform BTC in the near future.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Pixabay