bullish

Bitcoin

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/credible-predicts-xrps-bullish-trend-and-its-relationship-with-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Credible Predicts XRP’s Bullish Trend and Its Relationship with Bitcoin</a><br></p>
<p style="text-align: justify">Renowned <a href="https://en.coin-turk.com/altcoin-sui-price-analysis-can-sui-continue-to-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/garanti-bbva-launches-garanti-bbva-crypto-wallet-and-transfer-service/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst Credible has declared that XRP is on a strong upward trend. He informed his 439,700 followers on social media platform X that XRP is poised to rally again while maintaining its $1.35 support level. Credible anticipates that XRP will experience further gains if Bitcoin remains stable.</p>
<h2 style="text-align: justify" id="impact-of-bitcoin-on-xrp">Impact of Bitcoin on XRP</h2>
<p style="text-align: justify">Credible emphasized that XRP’s upward momentum is dependent on Bitcoin’s performance. He expressed that if Bitcoin negatively impacts the overall market conditions, XRP could face a significant decline. Credible posited that a pullback in Bitcoin could potentially drop XRP by 22% from its current levels, raising concerns about XRP falling below $1.10.</p>
<p style="text-align: justify">The analyst identified that XRP is currently in a five-wave upward movement, based on an analytical method derived from Elliott Wave theory. He expects XRP to reach the $1.60 level, provided that Bitcoin does not experience a substantial drop. However, he indicated the risk of XRP falling to the $0.48 level if Bitcoin declines.</p>
<h2 style="text-align: justify" id="elliott-wave-theory-and-xrp-s-outlook">Elliott Wave Theory and XRP’s Outlook</h2>
<p style="text-align: justify">According to Elliott Wave theory, an asset in a bullish trend undergoes a five-wave upward movement process. Credible noted that XRP’s fifth wave could extend, making a drop below $1 unlikely. Furthermore, he mentioned that strong buying opportunities might emerge in the range between $0.48 and $1.10 if XRP falls below $1.10.</p>
<p style="text-align: justify">Currently, XRP is trading at $1.44. Credible believes that XRP will maintain its upward trend as long as Bitcoin does not disrupt market stability. He stated, “XRP looks strong here. I expect it to reach at least $1.60.” Nevertheless, he also pointed out that XRP might face a correction if Bitcoin pulls the market down.</p>
<p style="text-align: justify">If XRP successfully completes its fifth wave and continues to rise, it seems unlikely that it will drop below $1 again. This scenario could present a positive outlook for XRP investors in the long term. However, Bitcoin’s movements will play a crucial role in this process.</p>
<p>The post <a href="https://en.coin-turk.com/credible-predicts-xrps-bullish-trend-and-its-relationship-with-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Credible Predicts XRP’s Bullish Trend and Its Relationship with Bitcoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Credible Predicts XRP’s Bullish Trend and Its Relationship with Bitcoin

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