A widely followed trader is leaning bullish on the native token of a decentralized finance (DeFi) crypto project built on the Ethereum (ETH) ecosystem.
The analyst pseudonymously known as Credible Crypto tells his 466,900 followers on the social media platform X that it is within the realm of possibility for Curve DAO (CRV) to witness an over 400% rally from current levels.
Credible says he sees CRV following in the footsteps of the payments altcoin XRP (XRP) when it witnessed a massive price rise in late Q4.
“This is actually quite feasible because once we clear $0.60-$0.80, the next major resistance on CRV is at $2-$3.
We already saw how quickly XRP went from $0.50 to $3+ [last] year when many said it wasn’t possible and/or were laughing at the idea.
Have been hearing the same with regards to CRV for months now from those who haven’t spent any time actually understanding the protocol, and I’m expecting a similar outcome.”
CRV is trading at $0.598 at time of writing.
Turning to XRP, CredibleCrypto says the “most bullish scenario” for the fourth-largest crypto asset could materialize if XRP manages to rise above a major resistance level.
“If we can break back above this point of breakdown [at around $2.20] impulsively, it would be a fantastic sign.”
XRP is trading at $2.00 at time of writing.
Next up is Bitcoin (BTC). The pseudonymous analyst says that while Bitcoin is holding up well, the crypto king needs to maintain support at roughly the $78,000 to $80,000 level to “keep the bullish idea intact.”
Bitcoin is trading at $83,208 at time of writing.
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