Crypto Analyst Says XRP Looks ‘Fantastic,’ Sees Potential for Bigger Upside Move for the Large-Cap Altcoin

A closely followed crypto analyst thinks that payments-focused altcoin XRP is in a strong position to witness bullish continuation.

Pseudonymous analyst Credible tells his 439,700 followers on the social media platform X that XRP looks ready for renewed rallies after holding its immediate support at $1.35.

According to the crypto strategist, XRP will see more bursts to the upside as long as Bitcoin ( BTC ) doesn’t play the spoiler.

“XRP looks fantastic here as long as BTC doesn’t ruin the party.

Would expect a move to the range highs at $1.60+ at the minimum but this could be the start of a larger move to the upside.”

Source: Credible/X

But the trader warns that his bullish outlook for XRP will be invalidated if Bitcoin drags the whole crypto market down. In a situation where BTC abruptly collapses, the crypto strategist sees XRP pulling back by at least 22% from current levels.

“If BTC breaks down, then XRP probably makes a move below $1.10 which confirms the completion of our first major wave one on XRP from $0.48-$1.62.

If XRP breaks below $1.10, it will be a great dip buying opportunity somewhere below that and above $0.48, but if XRP holds here and we get that fifth wave extension then there’s a decent chance we won’t see sub $1 again.”

Credible practices the Elliott Wave theory, which states that a bullish asset goes through a series of rallies in a five-wave upside move.

At time of writing, XRP is trading for $1.44 while BTC is worth $94,150.

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