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Analysts predict that XRP price is about to reach a new peak.
The famous analyst Credible Crypto – who has made many accurate predictions about altcoins – has recently sent out a strong optimistic signal for XRP, the leading payment token in the market. Accordingly, XRP is establishing a new upward trend that could push the price to an all-time high in the near future.
Important price increase set at 3.1 USD
Credible asserts that XRP has just formed a higher low pattern – an important bullish signal – after breaking through the key resistance level at 3.1 USD and turning it into a support zone.
"As long as the green zone (3.1 USD) is maintained, we can aim for a new high – even an all-time high."
Based on the technical chart shared by Credible, this trader expects XRP to rise to a price range of approximately 3.9 USD, marking an all-time high if it comes to fruition. At the time of writing, XRP is trading at 3.29 USD, indicating that there is still relatively large room for growth.
Can XRP surpass Ethereum?
Not stopping at the independent price action analysis of XRP, Credible also made a comparison between XRP and Ethereum ( the XRP/ETH pair ). Despite Ethereum – the second largest altcoin by market capitalization – experiencing a strong recent growth, the analyst still believes that XRP is poised for an even greater breakout than ETH.
"ETH has had a great performance recently, but perhaps it's time for XRP to regain its advantage... The downside target for the XRP/ETH pair that I shared three months ago has finally been reached."
This shows Credible's strong belief in the relative growth trend of XRP compared to other major altcoins, despite the recent strong recovery of the market as a whole.
Bitcoin is also preparing for a new surge
Besides XRP, Credible also provided a positive outlook for Bitcoin. According to him, as long as BTC maintains the key support level at 116,500 USD, the market can expect a new bull run and the possibility of setting a new all-time high in the current cycle.
"Bitcoin is poised to reach a new all-time high as long as it stays above $116,500," Credible wrote.
From a technical perspective, XRP is showing a positive pattern, with strong support at 3.10 USD and the expectation of breaking up to nearly 4 USD. The confidence of Credible Crypto – an experienced analyst – further strengthens the argument that XRP may return to the spotlight in the next altcoin season.
However, investors should still closely monitor important support areas and the overall market trends, especially in the context of Bitcoin taking the lead in the trend. A break-out from BTC could be the final "catalyst" that drives XRP to explode.
Annie