A widely followed cryptocurrency analyst believes payments altcoins XRP is gearing up for a run to a new all-time high.
The analyst pseudonymously known as Credible Crypto tells his 453,500 followers on the social media platform X that the third-largest digital asset by market cap just shattered its immediate resistance.
According to the trader, the move puts XRP in a position to surge to a fresh record high.
“We may have a breakout on our hands here. Swing and spot positions looking great here and we continue to simply let those ride till a new ATH (all-time high). Will actively look for scalp long entries once more now that we’ve cleared local resistance. “
XRP is trading at $2.53 at time of writing, around 25% below the record high of $3.40 reached seven years ago.
The pseudonymous analyst also says that XRP could outperform other crypto assets as it has done in the past.
“XRP has a habit of running on its own and leaving everything else in the dust once it gets going.
Those who have been here since 2017 have witnessed these moments.”
While Credible Crypto is bullish on the third-largest digital asset by market cap, the trader sees the native token of the stablecoins-focused decentralized exchange Curve DAO (CRV) potentially outperforming XRP over the short to medium term.
“So we’ve pushed deeper into the green zone – which means it’s still possible that we see a bullish shift here on CRV/XRP in the short/mid-term. If not, we make new lows – which implies XRP is absolutely ripping to the upside.
The good thing about holding both CRV and XRP is you win either way and if XRP does in fact lead here it just means you have to be a little patient on CRV which should follow based on the setup we identified on the US dollar pairing.”
CRV is trading at $0.811 at time of writing.
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