An analyst who caught the 2023 crypto bull run early believes that payments altcoin XRP is ready for a new round of rallies.
Pseudonymous analyst DonAlt tells his 65,100 YouTube subscribers that he thinks XRP is one of the strongest coins in the market alongside Bitcoin (BTC).
He also thinks that XRP has spent sufficient time consolidating after surging to a high of $2.90 in December.
“I am a believer for now. I just look at this chart, [and] I just see strength on both the Bitcoin pair and the USD pair. Both of those look excellent.
Pretty much exactly what I wanted to see… Weeks ago, I was [predicting] a little bit of pullback, a little bit of time spent basically, and it just looks like it can have a second leg [up]. So far, I don’t see anything that would go against that.”
Zooming out, DonAlt thinks XRP may be ready to spark steep surges to continue its bullish ascent that started in November.
“Every time I start doubting whether we’re gonna get a blow-off top on crypto or not, I look at the XRP chart and my doubts vanish… XRP looks like it’s gonna go for round two.”
The trader also shares a chart suggesting that resistance at $2.73 is the only obstacle left for XRP on the daily time frame.
“The XRP chart looks like this and you’re a non-believer?”
At time of writing, XRP is trading for $2.50.
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