Known as the Ripple seer, Credible predicts a new price surge for smart contract platform Solana and says a low-value altcoin project is preparing for a supply shock.
SOL could be ready for a rally, according to Credible
cryptocoin.com Credible Crypto, for which we share the analysis, said that the XRP price will withdraw to $0.168 before rising above $0.20. Later, XRP acted exactly as the analyst stated and fell to this low. Credible Crypto has also correctly predicted that the XRP price will take a big rally after the healthy correction in March of this year. XRP price was trading around $0.5 at the time and started to approach $2 by April. Meanwhile, the analyst has accurate predictions for Bitcoin price above $50,000.
Credible’s current bets are on Solana (SOL) and Curve (CRV). The analyst says on Twitter that he expects Solana (SOL) to initiate a major rally after launching a new wave of his own cycle:
SOL is leading the market and macro seems to have completed its 4th wave as a triangle. This means that we are starting the final fifth wave of the first macro cycle of the SOL. This will be epic and give a taste of what we’ll be seeing overall in the coming months. I’m expecting $500 and more.
The trader relies on Elliott Wave theory, a technical analysis approach that predicts future price action by following crowd psychology, which tends to manifest in waves.
Ripple seer expects CRV to rise as high as $6.50
The crypto analyst also closely monitors Curve (CRV), the governance token of stablecoin-focused decentralized exchange Curve Finance. According to Credible, he expects CRV to rally as high as $6.50 as it clears the key resistance at $3.50. Analyst’s technical chart and comments:
CRV is synergistic with CVX (Convex Finance). I can’t explain the mechanics in a tweet – but when CVX goes up it increases the natural value of the CRV and when the CRV goes up it increases the natural value of the CVX.
Convex Finance is a platform designed to help CRV token holders and liquidity providers earn additional interest rewards.
Credible adds that it is optimistic about Curve, as about 90% of supply is locked for years to come:
Oh, and 89% of all CRVs in circulation have been locked for about 3.7 years. So when we split up and everyone is clamoring to join the green candles, there will be a major supply shock that sends prices even higher, faster. Buy before it all starts… Yes, so the lock generates voting power – which is used to increase the efficiency of other protocols – which is why the vote locked CRV is in high demand.
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