The long-awaited XRP bull market has finally arrived, according to a cryptocurrency analyst who is closely watched in the cryptocurrency community.
xCrypto analyst and trader Credible Crypto told its 63,000 followers on Twitter that the third largest cryptocurrency is ready for a strong rally.
“Ladies and gentlemen, act 2 begins in XRP.”
According to the trader’s chart, XRP can go as high as $ 0.40, and considering the current price is $ 0.318, this increase represents an increase of over 25%.
XRP Officially Exits the Bear Market
Credible Crypto is not the only analyst who sees the bullish potential of the crypto asset called “Standard” by investors. Trader told the Twitter community in Pentoshi that XRP has officially left the bear country.
XRP closed at a one-week high for the first time since it started rising. The $ 0.30 level, which was resistance in 2017, brought back support in 2018 and is now retracted. This indicates that the XRP bull run has officially started. ”
According to Pentoshi’s chart, XRP’s instant target appears to be $ 0.4755. If the coin breaks this level, the next resistance stands at $ 0.9316.
The prospect behind XRP’s bull market arises when the crypto asset catches up with its competitors in terms of performance. With the recent rally, the third largest crypto has grown almost 65% to date, while Bitcoin (BTC) has gained over 70% and Ethereum has grown over 430% in the same period.
However, not all analysts are convinced of XRP’s bullish potential. Veteran trader Peter Brandt said he is wary of XRP as he believes that Ripple owning more than half of the total supply of XRP is a potential liability.