A widely followed cryptocurrency analyst believes that altcoin payments XRP are preparing to hit a new all-time high.
The pseudonymous analyst known as Credible Crypto tells his 453,500 followers on social media platform X that the third-largest digital asset by market capitalization has just broken its immediate resistance.
According to the trader, this decision allows XRP to reach a new record high.
“We might have an escape on our hands here. The swing and spot positions look great here and we just keep letting them roll to a new ATH (all time high). We will again actively look for long scalp entries now that we have eliminated local resistance. “
XRP is trading at $2.53 at the time of writing, about 25% below the all-time high of $3.40 reached seven years ago.
The pseudonymous analyst also claims 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 launched.
Those who have been here since 2017 have witnessed these moments.
While Credible Crypto is bullish on the third-largest digital asset by market capitalization, the trader sees the native token of stablecoin-focused decentralized exchange Curve DAO (CRV) potentially outperforming XRP in the short to medium term.
“So we have moved deeper into the green zone, which means it is still possible that we see a bullish change here on CRV/XRP in the short/medium term. Otherwise, we reach new lows, implying that XRP is absolutely bullish.
The advantage of holding both CRV and XRP is that you win either way and if configuration that we have identified on the pair of US dollars.
CRV is trading at $0.811 at the time of writing.
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