Analyst Credible Crypto predicts that XRP has not yet reached its peak and could rise to new record levels.
Anonymous analyst Credible Crypto, who closely follows the cryptocurrency market, stated that he sees significant bullish potential for XRP. Addressing his 443,500 followers on X, the analyst said that XRP could increase by over 65% from its current value.
Credible Crypto uses the Elliott Wave theory, which attempts to predict market movements by analyzing crowd psychology in the form of waves. According to this theory, when an asset is in an uptrend, it forms five major waves, with each major wave having five sub-waves within it.
The following striking statements were included in the statement made by the analyst:
This was really the beginning of a bigger bullish move. I think we are currently in the third subwave (green structure). The second subwave was short and clear (red box). The first wave of the third subwave seems to have been completed, but there are two more subwaves in this wave that should break the previous all-time high. Some people think that the peak has been reached for XRP, but I think we are still in the warm-up. This rally is going to be crazy.
According to the charts shared by Credible Crypto, XRP is predicted to reach $4.21 in the near future.
Bullish Flag Pattern on Monthly Charts
The analyst added that XRP has formed a strong bull flag formation on its monthly chart. In technical analysis, a bull flag is considered a continuation pattern that indicates an asset is preparing for a new rally after consolidation.
“XRP’s 84 months of sideways price action erased by a single monthly candle. Epic,” Credible Crypto noted on XRP’s monthly performance.
Anticipation that XRP could make new highs by surpassing its previous all-time high continues to increase investor interest in the cryptocurrency.
Stay tuned