Trader Says XRP Will Be Off to the Races Once Major Resistance Level Is Overcome – Here’s His Price Target
Analyst and trader Ali Martinez is leaning bullish on the third-largest crypto asset by market cap, XRP.
Martinez tells his 100,500 followers on the social media platform X that XRP is flashing a bullish signal on the four-hour time frame and could soar by around 57% from the current level.
“XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!”
XRP is trading at $2.55 at time of writing.
Next up is Bitcoin (BTC). According to Martinez, long-term holders of Bitcoin are reducing their positions, a phenomenon that coincided with a market top during the last two BTC cycles.
“Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up.
Could we be on the verge of a similar pattern? Is this the start of a market top?”
Bitcoin is trading at $104,919 at time of writing.
Next up is Ethereum (ETH). The crypto trader and analyst says that Ethereum could be on the cusp of a massive rally.
“In the past two bull cycles, Ethereum went parabolic when long-term holders shifted into greed mode. Right now, they’re only in the early stages of the belief phase. The big move could still be ahead!”
Ethereum is trading at $3,866 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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The post Trader Says XRP Will Be Off to the Races Once Major Resistance Level Is Overcome – Here’s His Price Target appeared first on The Daily Hodl.
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Author: Mark Emem
