Analyst Who Called XRP’s Drop to $0.16 Is Still Expecting Upside: Here’s Why
[NEWS BLOG]: Analyst Who Called XRP’s Drop to $0.16 Is Still Expecting Upside: Here’s Why
Analyst Who Called XRP’s Retracement to $0.16 Is Bullish
On March 26th, the price of XRP suddenly shot up out of nowhere, rallying by more than 10% within a few hours’ time out of nowhere, leaving Three Arrows Capital’s CEO, Su Zhu, to remark: “XRP looks like it wants to retrace months of underperformance in a few days now.”
In the wake of this surge, trader Credible Crypto said that before a further rally, he expects the asset to retrace to ~$0.168, as it has today, before continuing to trend higher in a wave-like fashion to $0.20 and beyond.
With XRP having retraced to the level he expected by the time he expected, the cryptocurrency tracing out his forecast in full will see it rally to $0.21 — 25% higher than the current price — before the month ends.
Not All Bullish
Although Credible Crypto currently sees a bullish chart, some fear that XRP’s prospects aren’t as bullish as he is painting them out to be.
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How Close Are We to Hyperbitcoinization – Total Bitcoin Dominance?
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Industry insiders call the phenomenon “hyperbitcoinization” – the widespread, global adoption of Bitcoin that will see it eventually surpass conventional fiats like the dollar, the euro or the yen.
But what do experts mean when they talk about hyperbitcoinization – and can industry players do anything to help speed it up?
What is Hyperbitcoinization?
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Analyst: Bitcoin’s Dominance Suggests Intense Crypto Market Rally is Approaching
"Bitcoin’s Crypto Market Dominance Remains Steady at 65%"
Bitcoin has been largely outperforming smaller altcoins in the time following its mid-March meltdown.
This is clear while looking towards the growth its dominance has seen over the aggregated crypto market in the time following this bout of capitulation.
At the time of writing, Bitcoin’s dominance is sitting at 65%. This is around the level at which it has been hovering at over the past several weeks.
In late-February, BTC’s dominance hit its year-to-date lows as altcoins begin incurring massive momentum. This market-wide uptrend proved to be short-lived, as the turbulence seen across - read more.