Crypto analyst CrediBULL Crypto a market analysis of Pepe (PEPE) provided, Ethereum (ETH)and XRP. Based on his analysis, PEPE could soon reach a new high, given how it has fared since reaching a new high highest point ever (ATH) in May.
A price increase for PEPE in the offing
CrediBULL Crypto listed in an X (formerly Twitter) after that PEPE has held up quite well despite the downtrend in the broader crypto market. He added that he wouldn’t be surprised if the meme coin makes another run to grab some untapped liquidity before it moves with the current bearish trend on the market.
The analyst also revealed that he has no plans to open a long position on PEPE yet, as he will continue to watch how things develop. Based on the chart that CrediBULL Crypto shared, PEPE could rise as high as $0.00001382 as it takes the untapped liquidity that the analyst discussed.
Meanwhile, CrediBULL Crypto predicts that the meme coin could drop as low as $0.00000570 if it makes it to the “bigger movement downwards,” the analyst expects after the rally to the upside. However, a market recovery for Bitcoin and the broader crypto market could invalidate this bearish stance of the analyst.
What’s the future for Ethereum and XRP?
CrediBULL Crypto Predicts That Ethereum Could Drop Below $2,800 soon. He made this prediction while revealing that he had cut his shorts in anticipation of a relief bounce that ultimately did not happen. He revealed that he has no intention of reopening a short position for Ethereum at the current price range as that relief bounce could still happen at these levels.
If that relief starts to pick up again, CrediBULL Crypto said he would like to reopen his short position. Meanwhile, the analyst is still optimistic about Ethereum long-term. He revealed that he hopes Ethereum drops to new lows as that will give him another chance to reload. CrediBULL Crypto had previously predicted that Ethereum would rise to $20,000 during this period market cycle.
For XRP, CrediBULL Crypto named that his previous XRP analysis still stands and nothing has changed. In his previous analysis, he stated that XRP is still in a range-setting environment and suggested that he was not looking to trade the crypto token at this time. However, he added that he would be interested in a potential trade if XRP drops to $0.50 or even as low as $0.39.
CrediBULL Crypto suggested that XRP could still fall to such lows, noting that the crypto token had experienced the pump, which caused the price to rise above local highs, something he said he expected before the price would fall back into the green zone, which he indicated on the charts.
Main image created with Dall.E, chart from Tradingview.com