Renowned cryptocurrency analyst CrediBULL Crypto has spotted a potential rally in XRP on the XRP/BTC 3-Day chart. CrediBULL has been adding to his XRP holdings in anticipation of a reversal in the price of XRP. He noted that there is an accumulation forming on the lower timeframe within a higher time-frame demand zone and a potential bullish divergence, which could support a significant turnaround.
CrediBULL mentioned that at the very least, he expects a 15-20% increase in XRP’s price against BTC, with the next major resistance level being 35% higher. He believes that if XRP breaks above that level, it could experience a surge with a more than 100% return against BTC.
This recent prediction from CrediBULL aligns with his previous position a week ago when he identified an RSI divergence on the XRP/BTC 3-Day chart. This signal prompted him to increase his trading position on the pair for the third time, as he believes that XRP has reached a crucial region where a reversal is highly likely.
While XRP’s value against the USD has been volatile in recent times, experiencing significant swings between February 1 and March 11, 2024, CrediBULL believes that technical conditions will play a crucial role in XRP’s price movement and can potentially lead to a substantial rally. As of now, XRP is trading at $0.5864, according to data from TradingView.
It’s important to note that the information presented in this article is for informational and educational purposes only and should not be considered financial advice. Readers are advised to exercise caution and do their own research before making any investment decisions.