The cryptocurrency market continues to fluctuate back and forth. The leading crypto Bitcoin failed to exceed $ 100,000 in its last move. The altcoin market is generally dominated by red colour. Despite this, analysts and traders remain hopeful for the future. A crypto analyst with a large following is bullish on XRP Coin. The analyst also predicts a correction and then a boom for Ethereum.
XRP Coin forecast: Only one powder keg is building pressure
As you have been following on Kriptokoin.com, the market has started to lose altitude again. XRP Coin, which has recently attracted attention with its explosive movement, is also declining. However, it is possible to make a new move after the correction. CredibleCrypto pseudonymous analyst says XRP is ‘absolutely great’ to Bitcoin parity. The analyst also says he plans to enter a long position in the coming days.
According to the analyst’s chart in the one-hour timeframe, he suggests that the XRP Coin price may first show a downward trend before skyrocketing by at least 65%. CredibleCrypto also suggests that XRP formed an inverted head and shoulders pattern on the same timeframe. The inverse head and shoulders pattern is considered a bullish signal in technical analysis. In this context, the analyst said, ‘I think it’s still the most bullish-looking chart at the lows. It’s just a powder keg building pressure…’ he says. Meanwhile, XRP Coin was trading at 0.00002323 BTC ($ 2.20) at the time of writing.
CredibleCrypto’s course for ETH: $6,000 after correction!
The analyst then looks at the leading altcoin Ethereum (ETH). CredibleCrypto predicts that ETH will trade in a range between $ 3,000 and $ 3,800 before bottoming out around $ 2,800. According to the analyst’s chart on the 12-hour timeframe, Ethereum will then rise to a new all-time high above $6,000. Meanwhile, Ethereum was trading at $ 3,334 at the time of writing.
The analyst also evaluates the Ethereum/Bitcoin pair. CredibleCrypto says it is still targeting Ethereum to fall to 0.02700 BTC to 0.02800 BTC before entering a long position. According to CredibleCrypto, ETH/BTC is now ‘pulling back’ after initially rising. Accordingly, the analyst says, ‘It would be absolutely epic if we had an entry in ETH/BTC that would probably mark this cycle peak.’ Meanwhile, ETH was trading at 0.03542 BTC at the time of writing.
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