News
ByAuthor J.D. SmithPosted on
31
0

Prominent Crypto Analyst Says XRP To Reclaim Top 3 Spot After Major Bullish Breakout

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A widely-followed analyst and trader is convinced that XRP will leapfrog three large-cap digital assets en route to reclaiming its place as the third-largest cryptocurrency by market cap.

In a new tweet, the trader known as Credible Crypto tells his 146,400 followers that XRP has ignited its long-awaited uptrend after taking out resistance at $0.56 and retesting it as support.

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“Red resistance region cleared, backtested nicely on the daily, looks good to go. XRP you are cleared for takeoff.”

Source: Credible Crypto/Twitter

Hours after Credible Crypto’s tweet, XRP launched a massive bull rally that catapulted Ripple’s native asset to a three-year high of $0.93.

Amid the big breakout, XRP now has the momentum to jump over Polkadot (DOT), Tether (USDT), and Binance Coin (BNB) and become the third-largest crypto asset by market cap, according to Credible.

“Lol just watch how quickly XRP makes it back to the top 3.”

Credible takes his bullish call a step further and says that it is within the realm of possibility for XRP to dislodge Ethereum as the second-largest crypto asset.

For XRP to follow Credible’s script, its market cap of $39.5 billion must increase over 45% in order to eclipse the $57.5 billion valuation of BNB, which is currently sitting at number three. To overtake Ethereum’s $246.6 billion market cap, XRP’s valuation must grow by at least 526%.

At time of writing, XRP is trading $0.87, up over 26.8% in the last 24 hours according to CoinGecko.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergey Nivens

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