Credible Crypto, a well-known crypto analyst, and XRP bull believes that the price of the coin could increase past the $10 mark this cycle. He believes that XRP is currently undergoing a consolidation period, and once it ends, there will be a significant expansion.
The analyst shared his thoughts with his almost 250,000 followers by posting a tweet:
“If these two structures look similar, it’s because they are. Almost mirror images, except the current consolidaiton is a larger, longer consolidation structure. 1. Consolidation precedes expansion 2. The greater the consolidation, the larger the expansion that follows. “
Daily Hodl reported that Credible Crypto replied to other Twitter users saying that the move past the $10 mark is “not going to happen from this leg of expansion.” However, over the next expansion leg, he mentioned, the price could reach or a bit “past” a new ATH.
The analyst further added that ideally, XRP could even hit $20 to $30. The price of XRP hit an ATH near $3.4 in early 2018, and since then, it has kept falling or fails to come close to it. At the time of writing, it is trading at $1.15 with a 4.06% increase in the past 24 hours, according to CoinMarketCap. Even if the cryptocurrency hasn’t surpassed its ATH, it will be up over 300% in 2021.
Credible Crypto often uses Elliot Wave Theory to analyze the market trends. This theory offers a method to describe price movements in the financial markets using fractal wave patterns. In the past, Credible Crypto has made some accurate predictions and we can only hope that he is right this time.
