XRP Price Poised To Surge 50%, While Bitcoin Price Might See Massive Crash - Here Are The Watch Levels

XRP Price Poised To Surge 50%, While Bitcoin Price Might See Massive Crash – Here Are The Watch Levels

15 June 2023

in XRP

Reading Time: 2 mins read

Altcoin Sherpa, a famous crypto expert, appears bullish on the altcoin XRP’s performance amidst the prevailing downturn. At the same time, he harbors pessimistic expectations for the crypto stalwart, Bitcoin.

The Rising Strength of XRP

Sherpa observes that XRP exhibits promising signs of robustness amidst the ongoing market slump. He asserts that the crypto asset, currently facing immediate resistance at $0.60, could see an impressive surge. If it manages to decisively surpass this resistance, he anticipates the altcoin might ascend to levels not witnessed since April 2022.

Also Read: Ripple News: XRP Price to Increase by Staggering 9600% – Here’s The Timeline

Sherpa says he refrains from purchasing at the current level but signals readiness to target an ambitious high of $0.80 and beyond if XRP proves its strength by conquering the aforementioned resistance zone.

A Bearish Stance on Bitcoin

Moving on to Bitcoin, the analyst’s stance takes a decidedly bearish turn. The leading digital asset currently grapples with a support level of $25,000. Should it plunge beneath this level, Altcoin Sherpa envisages a drastic corrective drop, potentially nearing the $20,000 mark.

The expert hints at the probability of an aggressive downward move, potentially to $22,000 or even lower, if the current support region fails to hold up Bitcoin. However, he adds a word of caution – support remains support, at least for the time being.

Sherpa is maintaining a wary approach toward Bitcoin at the moment. The existence of price gaps around $24,000 and $20,000 raises his eyebrows and fans his caution. These gaps serve as indicators for traders, who tend to monitor them closely as they frequently get filled over time.

He particularly points to a significant gap between $24,000 and $26,000, which he anticipates will be eventually closed. Adding to the lower targets is another gap on the Chicago Mercantile Exchange (CME) around $20,000. Given these factors, the expert advises caution in the crypto market.

At the time of reporting this story, XRP and Bitcoin were trading at $0.47 and $24,866, respectively.

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