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A crypto analyst has focused on an altcoin that holds significant potential in the markets. Known anonymously as Credible Crypto, he communicated to his YouTube subscribers that XRP exhibits a highly optimistic structure based on its charts. XRP is drawing attention as a payment-focused digital asset.
Technical Analysis and Elliott Wave Theory
Credible Crypto frequently employs Elliott Wave Theory in his technical analysis. He stated that XRP could increase up to $1.295 from its current level. The Elliott Wave Theory suggests a three-wave correction following a five-wave movement in an upward trend.
The analyst predicted that XRP would begin to rise from the $1.28 level, eventually reaching $4 and new all-time highs. He expressed that this increase would be part of the third sub-wave of a larger movement, ultimately hitting a peak between $20 and $30.
Market Structure
Credible Crypto emphasized that XRP consistently displays a clear upward structure across all timeframes. Even in short-term charts, these upward movements can be easily identified. He noted that the price movements of XRP also demonstrate the same clarity in higher time frames.
At the time of writing, XRP is trading at $2.15. The analyst warned that this level could continue to strengthen, urging users to remain cautious.
Credible Crypto indicated that if the market supports this rise, significant opportunities could emerge for traders. He conveyed that XRP is in a technically strong position and has greater upward potential in the future.
Despite the fluctuations in the cryptocurrency markets, XRP continues to stand out with its solid technical foundations and positive market structure. Traders can make more informed decisions by acting in accordance with such analyses.
