For many in the crypto space, it would be foolish for anyone to sell his crypto now and vest his money in cash, this is owing to the recent bubble displayed by crypto assets in the industry.
Crypto analyst and trader Credible Crypto thinks the same, more importantly for those who hold XRP crypto asset. The trader believes that XRP would benefit more from the upcoming bullrun and would upsurge by more than 1000%.
Credible Crypto made the clarification on Twitter, giving his over 70K followers hope that XRP would be among the most profitable coins during the imminent cycle. Right or wrong, many are of the opinion that the present rally is catalyzed by the recent halving event.
The trader believes that a pull back is imminent for the crypto market, and such retracement would help separate the boys from the men. He explained that unlike many altcoins in the market, XRP would not be greatly affected by the pullback.
“XRP/BTC is on support.”
You have the right idea for the pullback region. Many alts will dump hard but XRP/BTC is on support so it may not be affected as bad as other alts.
— Credible Crypto (@CredibleCrypto) November 17, 2020
Nevertheless, Credible Crypto also thinks that the pullback would be an excellent entry point for those who are just thinking about investing in crypto and those who want to up their game.
The analyst furthered that naysayer would continue to speak bad about the remittance oriented cryptocurrency, thinking that it is a dead coin, but “the correction we saw on $XRP was perfectly healthy.”
XRP’s Relative Strength Index (RSI) reveals a tale that need much attention, Credible Crypto said, adding that anyone who sells his XRP holding would be like those who sold their BTC when the largest cryptocurrency was worth $197 before it surged $20k.
Despite what your favorite "influencer" keeps telling you about $XRP being "dead", the correction we saw on $XRP was perfectly healthy. RSI tells a story, pay attention to it. Selling $XRP now is like selling $BTC when it was at $197- before it ran to 20k. pic.twitter.com/kqwUX440vt
— Credible Crypto (@CredibleCrypto) November 17, 2020
However, the upsurge will not happen in the next few days, but most likely a long term target.
Credible Crypto is also an experienced trader in the traditional stock market, but he seems to have developed interest in XRP.
His Twitter followers queried him about the price target to expect when XRP reaches the peak in the upcoming cycle, the crypto trader responded positively that he expects XRP to reach $25 to $30.
The current market rally has birthed series of speculations on social media platforms regarding where Bitcoin would be heading. Credible Crypto said even though he is sure that a correction awaits the leading digital asset, it may not happen anytime soon, and Bitcoin may continue to trend on the upside trend.
The trader said Bitcoin may attain new all-time high before we get a pullback. He added that BTC would break it existing all-time high in coming days. Afterwards, a 30%-40% pullback would likely set in, Crypto Credible said.
