Crypto Strategist Says XRP Looks Bullish, Traders Are Sleeping on Two Overlooked Altcoins
A popular crypto trader and analyst says XRP looks bullish while highlighting two other altcoins on his radar.
The trader known in the industry as Credible tells his 243,400 Twitter followers that the digital currency XRP looks ready to move higher against Bitcoin (XRP/BTC).
“Bullish. XRP”
The crypto analyst shares the inverse chart of XRP/BTC, which shows that the pair is poised to rally to 0.000055 BTC, worth $2.54. The move represents an upside potential of over 160% from its current value of 0.000021 BTC ($0.89).
Credible is also bullish on decentralized exchanges Curve (CRV) and Pancake Swap (CAKE).
The crypto strategist shares data from decentralized finance (DeFi) insights firm Coin98 Analytics showing that CRV is leading the decentralized exchange market in total value locked (TVL) with more than $13.2 billion year-to-date. CAKE comes in at number three with $4.74 billion in TVL for the same period.
“A lot of people [are] sleeping on CRV (and therefore CVX) and CAKE. I’m not. Been loading up on these three for the past month or two. Still plenty of time to get on board but this won’t be the case for much longer.”
The crypto trader also gives an update on Bitcoin (BTC). He expects altcoins to fly while Bitcoin ranges in the near term, sending the Bitcoin dominance chart to new all-time lows.
“We hit 49% on BTC [dominance], 1% shy of my target. Close enough. Expecting BTC to chop around in the coming weeks/months allowing alts to rally and sending BTC dominance to new all-time lows.”
The Bitcoin dominance chart shows the market share of BTC relative to the market cap of all other crypto assets.
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Author: Daily Hodl Staff
