Popular analyst CrediBULL predicts that if Bitcoin‘s current support continues, there could be an XRP rally. The analyst highlights the developing performance of XRP in relation to Bitcoin. Even if Bitcoin’s price falls to $53,000, CrediBULL believes XRP will maintain its upward trend.
Surprising XRP Prediction from Popular Analyst
According to crypto analyst CrediBULL, the recent Bitcoin price drop could trigger an XRP rally depending on the Bitcoin trend. CrediBULL noted in a recent post that the XRP/BTC pair has returned to a support zone. If BTC can maintain its current support, XRP could outperform, the analyst believes.
According to CrediBULL’s analysis, Bitcoin tested the support zone near $66,000 before reclaiming the $67,000 price level. However, the price then fell back below $66,000. Now, this lower support zone is more critical for BTC and could lead to further declines in Bitcoin.
Analyst CrediBULL explained that Bitcoin, the flagship cryptocurrency, has only tested two logical support levels following its recent decline. Therefore, it is difficult to have a clear approach to Bitcoin’s direction in the next phase, the analyst indicates.
Cryptocurrency XRP Price Could Reach This Level
In a previous post, CrediBULL shared a video analysis regarding the Bitcoin price and mentioned that the worst-case scenario could be Bitcoin falling below $69,000. However, a test at the $53,000 level for BTC could still be consistent with an upward trend, he states.
The analyst uses Bitcoin price movements to predict possible outcomes for the cryptocurrency XRP. After the recent BTC price drop, CrediBULL notes that XRP tested the support at $0.5846. This decline indicates that XRP could be drawn to a significant support zone.
The analyst mentions that if XRP refuses to fall below this level, it could rise to higher levels. Crypto analyst CrediBULL predicts that if a reversal occurs, XRP could advance towards $0.7400. At the time of writing, the cryptocurrency XRP is trading at $0.6015.
As for the cryptocurrency XRP, I believe its price direction will not necessarily be tied to technical analysis. The dynamics of XRP are more likely to change due to external factors. Focusing on the lawsuit process and the tokens held by Ripple would be more appropriate.
