A closely followed crypto strategist says XRP is giving off the same bullish signal it flashed late last year before triggering a parabolic surge.
Analyst Ali Martinez tells his 110,100 followers on the social media platform X that XRP may be gearing up for a new leg up based on its SuperTrend indicator.
The SuperTrend indicator is a technical analysis tool that aims to identify potential entry and exit points based on an asset’s trend.
Says Martinez,
“The last time the SuperTrend indicator flipped bullish on the 12-hour chart, XRP went up 470%… It just flipped bullish again.”Â
At time of writing, XRP is trading for $2.28.
Turning to Cardano, the trader thinks that ADA looks poised for a big rally after breaking out from a bullish continuation pattern on the daily chart.
“Cardano ADA is breaking out of a bull pennant, targeting $3!”
At time of writing, ADA is worth $0.99.
Next up is the top memecoin Dogecoin (DOGE), which the trader says is being gobbled up by deep-pocketed investors.
“Whales bought 140 million Dogecoin DOGE in [24 hours]!”
Martinez also notes that traders are currently bearish on Dogecoin, suggesting that the meme token may be primed to go against the crowd.
“Dogecoin DOGE weighted social sentiment is at -0.60, which means the crowd remains very pessimistic about its upside potential. This might be a good time to be a contrarian!”
At time of writing, DOGE is trading at $0.35.
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