A widely followed crypto trader is predicting bullish price action for XRP as he expects the sixth-largest digital asset to outperform Bitcoin (BTC).
Pseudonymous analyst Kaleo tells his 590,000 Twitter followers that he sees a bullish continuation for XRP after successfully retesting its diagonal resistance as support.
“XRP/USD low timeframe looks ready for another leg up as well.”
According to Kaleo, XRP could be following in the footsteps of Tron (TRX), which recently rallied from a low of $0.74 to a high of $0.85.
“For reference here’s what TRX just did. A similar squeeze could send XRP to $0.60+.”
At time of writing, XRP is trading for $0.52.
Looking at the XRP versus Bitcoin ratio (XRP/BTC), Kaleo says that the pair also looks poised to surge after breaking above its diagonal resistance.
“XRP/BTC pair looks primed for a squeeze as well.”
Meanwhile, fellow crypto strategist Cantering Clark is also bullish on XRP. The trader tells his 176,100 Twitter followers that he’s looking to accumulate XRP as he believes the altcoin’s price structure suggests that it is almost ready to surge.
“Not really looking at a whole lot of charts lately, but not gonna lie, between the weird spot bid and the launchy looking setup, I think I need to start TWAPing (time-weighted average price) XRP.”
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The post Analyst Says XRP Is About To Rally and Outperform Bitcoin – Here’s His Target appeared first on The Daily Hodl.