XRP to Surge to New All-Time Highs? Analyst Credible Pinpoints Key Price Level

Are you watching XRP’s next big move? Popular crypto strategist Credible is making waves with his latest analysis, pointing to a crucial resistance level that could unlock massive gains for XRP holders. Let’s dive into what Credible is saying and what it could mean for XRP’s future!

What’s the Buzz Around XRP?

XRP, the digital asset associated with Ripple, has always been a topic of intense discussion in the crypto community. Known for its focus on facilitating global payments, XRP has experienced periods of explosive growth and significant corrections. Now, with the market showing signs of renewed vigor, analysts are closely watching XRP for potential breakout moves. One such analyst is Credible Crypto, who has a substantial following of over 263,000 on social media. Let’s see what Credible’s analysis reveals.

The $1.70 Hurdle: XRP’s Gateway to New Highs?

According to Credible, XRP is currently in a phase of steady progress, conquering price levels one step at a time. But there’s a significant barrier ahead: the $1.70 resistance mark. Credible emphasizes that overcoming this level is crucial for XRP to embark on a journey towards new all-time highs (ATH).

In his own words, Credible stated:

“Once we manage to clear $1.70 on HTF, we are going to absolutely take off targeting new ATH… You can see here why this region, in general, is so significant.”

Let’s break down why this $1.70 region is so important.

Why $1.70 is the Magic Number for XRP?

Credible’s chart analysis highlights the $1.50 – $1.70 range as a critical zone. This area acted as a breakdown point back in May, triggering a prolonged bear trend for XRP, the seventh-largest cryptocurrency. This downturn ultimately led to a bottoming out in July. Overcoming this resistance now would signify a strong shift in market sentiment and pave the way for substantial upward momentum.

Here’s a quick recap of the significance of the $1.70 resistance:

• Historical Breakdown Point: $1.50 – $1.70 marked the start of a multi-month bear trend for XRP.
• Psychological Barrier: Overcoming previous breakdown points often signals a strong bullish reversal.
• Path to New ATH: Credible believes clearing $1.70 will trigger a significant rally towards new all-time highs.

Bitcoin’s Short-Term Bounce: A Tailwind for XRP?

Credible’s analysis isn’t limited to XRP. He also shared his insights on Bitcoin (BTC), the market leader. According to Credible, Bitcoin appears poised for a short-term rally after successfully retesting support around $62,000.

He noted:

“[BTC] decided to take the lows first. Let’s run it back to $66,000 = now… Note that while BTC made a local lower low here, most alts did NOT. This is a good sign.”

This observation about altcoins, including XRP, holding up even when Bitcoin dipped to a lower low, is particularly interesting. It suggests underlying strength in the altcoin market and could indicate that altcoins are ready to outperform Bitcoin in the short term.

Key Takeaways from Credible’s BTC Analysis:

• BTC Support Retest: Bitcoin has successfully retested the $62,000 support level.
• Short-Term Bullish: Credible anticipates a short-term bounce back to $66,000 for Bitcoin.
• Altcoin Strength: Altcoins, including XRP, showed resilience during BTC’s dip, signaling potential outperformance.

What Does This Mean for You? Actionable Insights

So, what can you take away from Credible’s analysis? Here are some actionable insights:

• Watch $1.70 for XRP: Keep a close eye on XRP’s price action around the $1.70 level. A decisive break above this could signal a strong buy opportunity, according to Credible.
• Monitor Bitcoin’s Movement: Bitcoin’s short-term bullish outlook could provide a favorable environment for altcoins like XRP to rally.
• Consider Altcoin Strength: The relative strength of altcoins during Bitcoin’s recent dip suggests potential opportunities in the altcoin market.
• Do Your Own Research (DYOR): Always remember that crypto markets are volatile. Credible’s analysis is valuable, but it’s crucial to conduct your own research and risk assessment before making any investment decisions.

Conclusion: Is XRP Gearing Up for a Major Rally?

Credible Crypto’s analysis paints an optimistic picture for XRP, suggesting that a breakthrough above the $1.70 resistance could unleash a significant rally towards new all-time highs. Coupled with a potentially bullish short-term outlook for Bitcoin and the observed strength in the altcoin market, the stage might be set for an exciting period for XRP and the broader crypto space. Keep a close watch on that $1.70 level – it could be the key to unlocking XRP’s next major surge!

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