$XRP
#Is XRP Hitting Its Low? Why Top Crypto Analysts Are Now Optimistic!
Credible Crypto, a prominent market analyst boasting nearly 480,000 followers on X, recently shared a compelling video on October 15. In this update, he expressed an optimistic view on XRP, asserting that the token’s high-time-frame structure “still looks absolutely freaking fantastic.” This perspective stands in stark contrast to what he termed “the most devastating and most significant liquidation event in the history of crypto.” He characterized last Friday’s cross-market crash as a bottom-forming anomaly, maintaining that XRP’s crucial support levels held firm, thus preserving his bullish double-digit price outlook.
XRP Targets Double-Digits
The analyst’s primary assertion is clear: the recent volatility and sharp decline across various venues have not invalidated XRP’s long-term uptrend. Credible Crypto highlighted a significant monthly demand band situated between $2.00 and $2.40. He noted that despite the flash-liquidity cascade, XRP did not experience any 4-hourly closes below $2.30. Furthermore, he emphasized that the deeper price drops to $1.17 on certain exchanges resulted from forced liquidations rather than genuine selling pressure. He remarked, “Ultimately on the high time frames once again it looks fantastic,” reinforcing the notion that as long as XRP stays above the origin of its previous five-wave advance starting at roughly $0.49, the recent selloff should be viewed as a mid-cycle correction, not the end of a bull run. In his words: “This is not the end of the bull run for XRP… we have much higher to go.”
Tactical Markers for XRP’s Future
Credible Crypto outlined specific tactical markers for XRP’s trajectory. For the USD pair, he identified a critical supply zone between $2.70 and $3.11; achieving acceptance above this range could indicate the onset of the next upward impulse. He also pointed to a familiar horizontal level on the XRP/BTC chart, dubbed “Gandalf’s grave,” which flipped from resistance to support and remained respected even during the market crash.
The analyst foresees two potential paths for XRP. In the first scenario, Bitcoin could surge towards $130,000 to $150,000, while XRP consolidates sideways. This dynamic would likely push XRP/BTC lower into a deeper demand zone, even as the XRP/USD pair maintains a higher base above approximately $1.90 to $2.30. Alternatively, XRP could stabilize and experience a more immediate surge, with a minimum 50% move upward against Bitcoin, potentially resulting in new all-time highs for XRP/USD.
Credible Crypto advised investors to consider a drift lower on XRP/BTC as a strategic opportunity rather than a setback. He stated, “If you’re not fully loaded on XRP, that is when you should get fully loaded.”
The Link Between XRP and Ethereum’s Performance
Importantly, Credible Crypto connects XRP’s roadmap to Ethereum’s forthcoming moves. He commended Ethereum for displaying “one of the cleanest impulsive movements” in years, witnessing a full five-wave advance from around $2,000 to $4,700. He outlined two scenarios for Ethereum’s next steps: in the first, the $2,000 to $4,700 advance serves as the first wave of a more extensive sequence targeting $10,000+, with the current drawdown representing the second wave before a potential expansion to $5,000 to $6,000.
Conversely, the second scenario suggests that Ethereum may be missing a final wave to new highs just above $5,000, followed by a broader correction. He also provided a critical invalidation level for scenario two; if Ethereum drops to around $2,700 to $2,800, it would invalidate the bullish outlook, favoring the more aggressive scenario.
So, why does this matter for XRP? If Ethereum successfully navigates toward and surpasses $5,000, XRP/ETH is likely to dip into a deeper demand zone before reversing. This timing could align with XRP/USD consolidating while Ethereum completes its upward leg. Credible Crypto views this as a constructive signal, indicating that a final dip in XRP/ETH toward higher-time-frame demand could signal an excellent risk-reward opportunity for long trades on XRP/USD.
Confirmation Playbook for XRP
For those looking to confirm their strategies on XRP, Credible Crypto recommends monitoring a few key indicators. On XRP/USD, look for an impulsive five-wave thrust off the lows and clean acceptance above the $2.70 to $3.11 range. For XRP/BTC, either a quick reversal from the “Gandalf’s grave” retest or a controlled bleed into a pre-identified demand block would be crucial for timing a robust breakout in USD terms later. Additionally, a drift towards the green demand area in XRP/ETH would likely coincide with Ethereum’s final push beyond $5,000, after which a significant reversal in favor of XRP is expected.
As of the latest update, XRP is trading at $2.42. For more insights into the cryptocurrency market, explore our crypto articles. If you’re looking to trade, consider starting your journey with Binance.
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