The crypto market looks bloody today, with Bitcoin and the altcoins dropping significantly in price.
The online publication the Daily Hodl notes that an analyst who accurately predicted XRP’s recent bounce from a low of about $0.22 said that he expects the coin to still move upwards.
Check out his tweet below:
If you got excited seeing the last $XRP pop, you’re gonna love this next one. The start of our major reversal against $BTC. This is the BTC pairing, but it should correlate with a move to .40-.50 on the USD pairing that I have been talking about in my recent update vids. pic.twitter.com/oo8SnoCH4b
— Credible Crypto (@CredibleCrypto) January 9, 2021
Someone commented: “I’ve yet to see any xrp hype come through. A few charts signaled moon, but it’s just not happening. This time is going to be different?”
The analyst responded with: “I mean you must have missed the 170+% run to .90 a few weeks ago? Sure the SEC news set us back, but if you don’t think that run was absolutely insane I don’t know what to tell you.”
When a follower asked: “…but it should correlate with a move to .40-.50 on the USD pairing that I have been talking about…” Do I read correctly you mean btcusd will drop hard while xrpbtc runs as in your reference chart, so the net effect on xrpusd would be 40ish cents? Or did you mean sm else?”
Credible Crypto responded with: “Not quite- I expect range like action from BTC allowing XRP/USD to run and sending XRP/BTC up.”
Ethereum could outperform Bitcoin
Here’s what the analyst has to say about Bitcoin and Ethereum.
“i’ll be selling a lot of spot BTC buys from $10,000 as we approach $50,000 to funnel more funds into altcoins. I have $300,000 as a MAX on BTC in this cycle. That is 6x from $50,000. I fully expect most altcoins to outperform [BTC] from here. Even majors like ETH will easily eclipse 6x from current levels.”
At the moment, the crypto market is still bloody, but Bitcoin is picking up steam again.