XRP is gaining attention as a leading crypto analyst, Credible, sees strong potential for continued upward movement. The payments-focused altcoin is holding its support at $1.35, setting the stage for a rally toward $1.60 or higher.
Analyst Sees XRP Rally Continuing
Credible, a popular figure on X with over 439,700 followers, predicts XRP could reach $1.60 as long as Bitcoin (BTC) remains stable. He notes that XRP’s current price action aligns with bullish continuation patterns.
“XRP looks fantastic here as long as BTC doesn’t ruin the party,” Credible commented. “I would expect a move to the range highs at $1.60+ at the minimum. This could even mark the start of a larger rally.”
Key Risks and Pullback Levels
While optimistic, Credible warns that XRP’s bullish outlook depends on Bitcoin’s stability. If BTC faces a significant breakdown, XRP could pull back by at least 22%, possibly dipping below $1.10.
In such a scenario, Credible suggests the pullback could offer a prime buying opportunity.
“If BTC breaks down, XRP might drop below $1.10, confirming the end of our first major wave from $0.48 to $1.62,” he explained. “A dip below $1 could present a great buying opportunity between $0.48 and $1.10.”
Elliott Wave Theory Insights
Credible’s analysis is based on the Elliott Wave theory, which identifies market movements in five-wave patterns during bullish trends. If XRP holds above $1.35 and forms a fifth-wave extension, the altcoin may not revisit sub-$1 levels.
Current Market Snapshot
At the time of writing, XRP is trading at $1.44, while Bitcoin remains steady at $94,150. XRP’s ability to hold support levels will determine its path toward $1.60 or beyond.