dailyhodl.com
A widely followed trader is leaning bullish on the native token of a decentralized finance (DeFi) crypto project built on the Ethereum (ETH) ecosystem.
The analyst pseudonymously known as Credible Crypto tells his 466,900 followers on the social media platform X that it is within the realm of possibility for Curve DAO ($CRV) to witness an over 400% rally from current levels.
Credible says he sees $CRV following in the footsteps of the payments altcoin $XRP ($XRP) when it witnessed a massive price rise in late Q4.
“This is actually quite feasible because once we clear $0.60-$0.80, the next major resistance on $CRV is at $2-$3.
We already saw how quickly $XRP went from $0.50 to $3+ [last] year when many said it wasn’t possible and/or were laughing at the idea.
Have been hearing the same with regards to $CRV for months now from those who haven’t spent any time actually understanding the protocol, and I’m expecting a similar outcome.”
$CRV is trading at $0.598 at time of writing.
Turning to $XRP, CredibleCrypto says the “most bullish scenario” for the fourth-largest crypto asset could materialize if $XRP manages to rise above a major resistance level.
“If we can break back above this point of breakdown [at around $2.20] impulsively, it would be a fantastic sign.”
$XRP is trading at $2.00 at time of writing.
Next up is Bitcoin (BTC). The pseudonymous analyst says that while Bitcoin is holding up well, the crypto king needs to maintain support at roughly the $78,000 to $80,000 level to “keep the bullish idea intact.”
Bitcoin is trading at $83,208 at time of writing.
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