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Crypto Strategist Says Altcoin Boom Incoming, Predicts XRP Will Soon Soar Above $1.00 Before Reaching All-Time High

by Daily Hodl Staff
December 18, 2020
in Altcoins, Bitcoin, Ripple and XRP

A crypto analyst who accurately predicted Bitcoin’s big crash to about $4,000 earlier this year says a big altcoin rally is brewing.

The pseudonymous strategist, who goes by the name Capo, tells his 29,000 Twitter followers that a historical analysis of Bitcoin’s dominance dating back to 2019 indicates the top crypto’s share of the overall market is set to nosedive from its current levels of 65% in the weeks ahead, as capital flows to mid and small-cap assets.

“I think Bitcoin dominance will drop to 50% in the coming weeks. This means HUGE altseason [incoming].”

Source: il Capo Of Crypto

The analyst specifically calls out XRP as one of the main altcoins that he’s keeping an eye on.

He says the third-largest crypto asset has had a clean break through a symmetrical triangle that formed when it hit a recent yearly high of $0.76.

In a matter of weeks, he predicts XRP will be at the $1.00 mark, and a return to its all-time high will happen once it surpasses historical resistance at $1.18.

The analyst’s latest chart shows XRP returning to its all-time high of about $2.80 in May of next year.

Source: il Capo Of Crypto

The trader remains bullish on Bitcoin after its massive rally to an all-time high of $23,642.

“2013 ATH breakout in 2017 was the most similar price action. If BTC keeps following that path, we won’t see it below $20,000 again.”

In the short-term, Capo believes BTC may correct to the low $22,000 region before once again bursting to about $24,750.

Source: il Capo Of Crypto
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