dailyhodl.com
XRP could be on the heels of one of the biggest rallies its ever had, according to a closely-followed crypto trader.
In a new strategy session, the pseudonymous trader known as Credible Crypto says he believes XRP is destined to reach somewhere between $20-$30 this bull cycle.
Looking at XRP’s abrupt 1000% rally in 2017, the trader posits that something similar could happen in the current bull cycle.
“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month…
Something similar can be expected here. I think if we can break the all-time high within the next few months then we’re easily going to go – 3 to 5X is very reasonable. Again, in 2017 we went 10X. 3 to 5X is easy. $10.00 minimum is where I’l consider taking profits.”
According to Credible Crypto, once XRP breaks its all-time highs of $3.40, the token will go into an explosive price discovery phase that could end up as high as $30.00.
Based on current prices, the trader’s target for XRP implies a 2319% increase from current prices.
“We have a ways to go is what I’m getting at here. Again, my targets for XRP as I’ve said many many times, stand at $20 to $30 at the end of this bull cycle, whether that be six months or a year for now.
That is my target. Things will get exciting, things will accelerate aggressively after we break all-time highs. The hardest part is getting back to all-time highs. As we break all-time highs there’s no sell pressure above and it becomes very easy to climb the ranks and to get higher and higher.”