CrediBULL Crypto Provides Market Analysis on Pepe (PEPE), Ethereum (ETH), and XRP

Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high

Crypto analyst CrediBULL Crypto has provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Here's a summary of his analysis:

PEPE Could Hit a New High Soon

According to CrediBULL Crypto's analysis, PEPE has been holding up well despite the downtrend in the broader crypto market. He believes the meme coin could hit a new high soon, considering how it has ranged since hitting a new all-time high (ATH) in May.

CrediBULL Crypto, who is known for his precise market calls, stated that he won't be surprised if PEPE makes another leg up to take some untapped liquidity before it moves along with the current bearish trend in the market. He also mentioned that he doesn't plan to open a long position on PEPE yet and will continue to watch how things unfold.

Based on the chart that CrediBULL Crypto shared, PEPE could rise to as high as $0.00001382 as it takes the untapped liquidity that the analyst discussed. At the same time, CrediBULL Crypto predicts that the meme coin could drop to as low as $0.00000570 if it makes the “larger move down” that the analyst anticipates after the rally to the upside. However, a market rebound for Bitcoin and the broader crypto market could invalidate this bearish set-up from the analyst.

CrediBULL Crypto Predicts ETH to Drop Below $2,800

CrediBULL Crypto predicts that ETH could drop below $2,800 soon enough. He made this prediction while revealing that he had cut his shorts in anticipation of a relief bounce that didn't eventually happen. He revealed that he won't look to reopen any short position for ETH at its current price range since that relief bounce could still happen at these levels.

If that relief bounce happens, CrediBULL Crypto mentioned that he would look to reopen his short position. Meanwhile, the analyst is still bullish on ETH in the long term. He revealed that he hopes ETH drops to new lows since that will give him another chance to reload. CrediBULL Crypto had previously predicted that ETH would rise to $20,000 in this market cycle.

CrediBULL Crypto's Previous XRP Analysis Still Stands

For XRP, CrediBULL Crypto mentioned that his previous XRP analysis still stands, and nothing has changed. In his previous analysis, he stated that XRP is still in a ranging environment and suggested that he wasn't looking to trade the crypto token at the moment.

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 drop to such lows, noting that the crypto token had experienced the pump, which had taken it above the local highs, something which he claimed he was expecting before a pullback to the green zone, which he highlighted on the charts.