A widely followed crypto trader is forecasting a bullish price development for XRP as it expects the sixth largest digital asset to outperform Bitcoin (BTC).
Pseudonymous analyst Kaleo is telling his 590,000 Twitter followers that he sees a continuation of the uptrend for XRP after successfully retesting its diagonal resistance as support.
“XRP/USD low timeframe also appears poised for another surge.”
Source: Kaleo/Twitter
According to Kaleo, XRP could follow in the footsteps of Tron (TRX), which recently rose to a high of $0.85 from a low of $0.74.
“For reference here is what TRX just did. A similar bottleneck could push XRP above $0.60.”
Source: Kaleo/Twitter
At the time of writing, XRP is trading at $0.52.
Looking at the XRP-to-Bitcoin (XRP/BTC) ratio, Kaleo says that the pair is also poised for a surge after breaking its diagonal resistance.
“The XRP/BTC pair also appears primed for a bottleneck.”
Source: Kaleo/Twitter
Meanwhile, his crypto strategist Cantering Clark is also bullish on XRP. The trader tells his 176,100 Twitter followers that he is trying to accumulate XRP as he believes the altcoin’s price structure suggests that it is almost poised to surge.
“I haven’t really been looking at a lot of charts lately but I won’t lie, between the weird spot bid and the moody looking setup I think I need to start TWAPing (time weighted average price) XRP.”
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