A closely followed crypto strategist and trader says XRP is gearing up for a possible 50% surge as two low-cap altcoins carve out their bottoms.
Pseudonymous crypto analyst Credible tells his 249,100 followers that while XRP briefly traded below his support area of $0.90, it managed to recover a key price level and is now poised to rally to a new higher high.
“And here’s one for my ZERPS! We deviated below the range rather than pushing up but now we have reclaimed it, so I am once again targeting the highs at $1.35 and beyond! XRP.”
Credible is referencing a tweet that he posted in September where he plotted XRP’s path from a low of $0.90 to as high as $1.70.
“Swept the highs then swept the lows into daily demand. Number go up now please. XRP.”
Should XRP follow Credible’s script, the altcoin offers a potential upside of over 55% from its current value of $1.09.
As for the crypto analyst’s long-term price target for the sixth-largest crypto, he believes XRP will skyrocket to between $20-$30 this bull cycle.
The widely followed analyst is also looking at Hedera Hashgraph (HBAR), a public network for peer-to-peer payments. According to Credible, he believes HBAR will carve out a bottom at $0.35.
“HBAR with a very important key reclaim here on the low timeframe. I think our bottom is likely in.”
Another coin on the trader’s radar is Convex Finance (CVX), the native token of decentralized finance (DeFi) protocol Convex. Credible predicts that CVX will create a new base of buyers around $12 before launching a rally to about $16.
“Expectations. CVX.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/diversepixel