A prominent crypto strategist, known for accurately timing altcoin investments, has revealed his recent acquisition of the utility token from OriginTrail (TRAC), a project focused on supply chain solutions. The pseudonymous analyst Credible shared with his 476,600 followers on X that he decided to add to his holdings of TRAC after the token reached a significant high-time-frame support level.
Credible highlighted his continued interest in TRAC, stating, “Added some TRAC to my spot holdings today, still just marinating in the HTF accumulation zone.”
In his earlier updates from July, he detailed the rationale behind including TRAC in his core portfolio, noting that the token had appreciated approximately fivefold since it first captured his attention in 2023. He pointed out that TRAC had recently returned to a previously marked accumulation zone. With a fully diluted supply of 500 million and a current market capitalization of around $200 million, he emphasized its favorable conditions, arguing that zero token inflation leads to significant upside potential for OriginTrail. “It has been a core holding for me since I spoke about it a couple of years ago, and it seems fundamentals have only gotten stronger since then. I don’t think you can go wrong with picking up some spot again at these levels,” he added.
At the time of this report, TRAC was trading at $0.361, reflecting an increase of over 7% for the day.
In addition to his insights on TRAC, Credible is also closely monitoring XRP, predicting that the altcoin is set to outperform Ethereum (ETH), which has experienced strong rallies over the past couple of months. He noted a bullish divergence forming on the XRP/ETH chart on a three-day timeframe, suggesting a potential reversal in favor of XRP.
“One more confluent factor to support my thesis below of XRP outperformance over ETH in the coming weeks/months: We have already printed confirmed daily bull divergences on the XRP/ETH pairing and are currently in the process of printing one on the three-day time frame as well,” Credible explained, underlining the bullish outlook he sees for XRP against ETH.
Based on his analysis, the trader anticipates that XRP/ETH could rally to 0.00165 ETH, with the trading pair currently valued at 0.000066 ETH, equivalent to approximately $2.86.
As always, investors are reminded to exercise caution and conduct thorough due diligence before engaging in high-risk investments in cryptocurrencies and other digital assets. The unpredictable nature of these markets underscores the importance of making informed decisions, as any funds transferred or trades conducted are ultimately the responsibility of the individual investor.
