Recently, a renowned figure in the crypto analysis sphere, CrediBULL Crypto, highlighted XRP forecast to rise. According to the analyst, XRP is on the verge of a significant rally that could increase its value against Bitcoin in the next period.
XRP Price: Anticipating the Rise
CrediBULL Crypto has been closely monitoring the movements of XRP against Bitcoin. Through analysis, he observed an interesting trend in the XRP/BTC trading pair that suggests a future increase.
The key to this prediction is identifying an accumulation phase that occurs at a lower time period within a higher demand zone. This pattern is nothing new for the analyst, who identified similar trends.
Insights provided by CrediBULL Crypto indicate a potential 15-20% rally for XRP against Bitcoin in the near term. Should the altcoin break the next great resistancewhich is pegged 35% higher, the analyst believes this could trigger a rally, rewarding investors with returns in excess of 100% relative to BTC.
Completed the $XRP position here for the 4th time – USD and BTC pairs are synchronized. Within our larger HTF demand zone, we now have a lower TF accumulation base formed, a confirmed D3 bull div, and if we close here in about 8 hours, we will have a double D3 bull div.
At the… https://t.co/lgJeQfLXvG pic.twitter.com/YV7aelYtwT
– CrediBULL Crypto (@CredibleCrypto) March 18, 2024
A week before this bullish forecast, CrediBULL Crypto had already increased its position on the XRP/BTC pair, driven by an “RSI divergence” observed on the 3-day chart. Such divergences are often harbingers of a significant market turnaround, suggesting that the altcoin has entered a crucial region, ready for a bullish reversal.
XRP Foundation for Growth
XRP’s potential is not just a matter of speculative trading. Other market experts highlighted the fundamentals of cryptocurrency. Zach Rector, a prominent voice in the crypto community, also recognized the altcoin’s potential.
By drawing parallels with Bitcoin, Rector points out the basis of XRP and XRPL, setting the stage for XRP significant impact on the next market recovery.
Analyst Dark Defender also sees a bright future for the altcoin, predicting a rise to the $1.33 price level as an immediate target. Furthermore, he suggests that achieving the Fibonacci targets of $1.88 and $5.85 in the coming weeks is well within the realm of possibility.
Hello everybody. #XRP we had the escape yesterday, as we expected.
In the monthly period, it is obvious that the change #started.
The huge resistance of $0.6649 was broken on the Daily, and #confirmed
$0.6649 will be confirmed for weekly and monthly frames.
Our targets are closer… pic.twitter.com/pgSJmfT0s6
– Defender of Darkness (@DefendDark) March 12, 2024
Meanwhile, despite facing a slowdown with a 13% drop followed by an additional 1% drop in the last 24 hours, the altcoin’s trading price remains resilient at $0.6.
Featured image from Unsplash, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC’s opinion on buying, selling or holding any investments and, naturally, investing carries risks. We advise that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.