Crypto analysis has shown that Ripple’s XRP long term price will be set for a favorable run. The projected surge that see it’s value surge about 100x in the crypto market.
The analysis, which indicates that all altcoins will suffer a pullback in the next big correction in the market, was made by a popular crypto trader and analyst, popularly known as Credible Crypto.
According to the analyst, even though many altcoins will suffer, the long term price ripple’s XRT and BTC will not really be affected. That’s because of the backing they have in the market.
Credible Crypto posits that XRP may not suffer as other altcoins because the coin has the support of BTC
Specifically, he said XRP’s long term price will surge as the bitcoin increased from $197 to $20k in the market. To him, selling XRP now would be a really wrong idea as the Ripple token has the potential to have a surge like that of Bitcoin.
The support XRP long term price is expected to enjoy when BTC does a pull back of 20% -30% is as a result of its weekly demand level which goes back to as far back as 2017.
The analyst also argued that the belief by some others that XRP is dead is wrong; it is still perfectly healthy.
To support his claim, Credible Crypto tweeted to his over 70 thousand followers that they should pay more attention to RSI.
Despite what your favorite “influencer” keeps telling you about $XRP being “dead”, the correction we saw on $XRP was perfectly healthy. RSI tells a story, pay attention to it. Selling $XRP now is like selling $BTC when it was at $197- before it ran to 20k. pic.twitter.com/kqwUX440vt
— Credible Crypto (@CredibleCrypto) November 17, 2020
He also advised that it is more advisable to invest in XRP. Why? because like other smaller market cap coins, it will be more volatile. Hence greater downside on the drops and greater upside on the pops than even BTC.
Ripple XRP is a distinct crypto token
Another factor that seems to back the analyst’s prediction, is the uniqueness of Ripple’s XRP as a major cryptocurrency in the global market.
Unlike other big cryptocurrencies like BTC, Ripple does not rely on decentralization in the market. And as such, it aligns with various banks and investment firms around the world that back its operations.
While Ripple’s position is regarded by some as notorious and counterproductive, various analysis has shown that its uniqueness means It can survive the turbulence. Which could potentially shake the industry in the next few years.
Uniformly, institutional bodies and governments across the globe continue to face escalating pressure to regulate the cryptocurrency industry. Should this happen, Ripple is by far in a better position to overcome any crackdown by the government than most conventional cryptos.
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.