This is how XRP can break its all-time high within 2 months

Source: Travis Wolfe

• According to “Credible Crypto”, the XRP price could break its all-time high within the next one or two months, provided that Bitcoin also exceeds its ATH.
• The level around USD 0.90 will be the next strong resistance for XRP.

Technical analyst Credible Crypto released a new XRP price analysis via YouTube a few hours ago. Using Elliott Wave Theory, a technical analysis method that looks for long-term recurring price patterns associated with ongoing changes in investor sentiment and psychology, predicts a sustained bull run for XRP.

As the analyst notes, after the consolidation in the region of $ 0.24, there was strong upward momentum, as expected. During the first wave, the XRP price rose to $ 0.33, after which it consolidated in the region of $ 0.21. After that, the third wave began, which Credible Crypto analyzed as follows

I said that the minimum target for the third main wave will be around $ 0.63. We have reached the minimum target and now we can definitely surpass a dollar. This is the next big area of ​​resistance. So I expect lateral movement before wave four, before a major fifth wave that could absolutely extend.

Source: https://www.youtube.com/watch?v=GMFYZUiK4Rk&feature=youtu.be

According to Credible Crypto, this is currently not a good time to sell XRP. Considering past price movements and current market sentiment, he believes it is not unlikely that the price will rise 10x within a month.

However, this explosive price movement could also hinge on the price of Bitcoin. In the past, when Bitcoin broke an all-time high, altcoins usually hit their all-time highs within 2 months. In this regard, the analyst states:

In previous times Bitcoin broke an all-time high, altcoins typically reached their all-time highs within 2 months. This means that, as you already know from the first part of the video, I expect Bitcoin to break its all-time high with the next week or two, […] I suspect XRP will break its all-time high within the next one or two months after Bitcoin surpasses its all-time high.

But as Credible Crypto also pointed out, in Elliott’s wave theory, it takes five waves to accomplish a parabolic rise. Currently, the third wave is not yet complete, forecasting a peak at $ 1.00, and must overcome a strong resistance in the zone around $ 0.90. Thereafter, there may be a stronger correction (wave 4) to $ 0.78.

The analyst currently places the “buy the dip zone” between $ 0.3761 and $ 0.4183, although in his opinion there is no guarantee that XRP will enter this zone again. The current decline to USD 0.45 may already have been the minimum. Furthermore, a breach below $ 0.33 is even less likely, although this would also invalidate the entire chart pattern.

As reported by CNF, Credible Crypto is a well-known XRP bull and has already predicted in several analyzes a price increase for XRP of more than 1,000% with a target price of $ 25 to $ 30. At the time of writing, XRP was trading at USD 0.62 and has shown a 13% gain in the past 24 hours. The monthly chart shows a whopping 157% lead.