Cryptocurrency Trader Turns Optimistic on Major Ethereum (ETH) Rival, Revises Projections for XRP and Curve (CRV)

A prominent crypto analyst and trader is expressing optimism about an Ethereum (ETH) competitor while sharing perspectives on XRP and the DeFi project Curve DAO Token (CRV).

The expert, known by the pseudonym Credible Crypto, is communicating to his 423,200 social media followers on X that he is planning to go long on Solana (SOL), currently the fifth-largest cryptocurrency by market cap.

According to Credible Crypto, a drop below $126 would negate his positive stance on Solana, while he sets a profit target in the vicinity of $163.

“This trade is predicated on the notion that we might experience some reprieve in the market.

Confluence with local demand, eyeing the closely matched highs into major supply zones…

…Should Bitcoin continue to struggle, however, this position will be exited upon hitting our stop loss.”

At the time of publication, Solana is valued at $138.

Regarding XRP, the analyst indicates a recent buying opportunity identified on the daily chart. Predicated on his analysis, there is potential for XRP to surge past $0.69, translating to roughly a 33% increase from its current price.

“One should take note that a loss of the midrange support of around $0.50, delineated by the lower timeframe blue zone, could precede a fall to the lower range boundaries below $0.40, warranting prudent risk management.”

XRP’s current trading price is $0.517.

Conversely, the analyst projects a downward trajectory for Curve DAO Token (CRV), expecting an approximate 8% decline from its present value. However, he remains optimistic about CRV’s long-term prospects.

“I’m purchasing a small stake with the intention of capitalizing on a potential short-term bounce. My conviction holds that we might descend below $0.24 and, contingent on Bitcoin’s movements, potentially further.”

Presently, CRV’s price stands at $0.256.

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Disclaimer: The views expressed in The Daily Hodl are not investment advice. Before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors should conduct thorough research. It’s important to understand that you are responsible for your own investment decisions and potential losses. The Daily Hodl is not an investment advisor and does not advocate for the purchase or sale of any cryptocurrencies or digital assets. The Daily Hodl is part of affiliate marketing programs.

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