An analyst who accurately called the crypto market bottom in 2022 believes that one large-cap digital asset will be the fastest horse should conditions become bullish again.
In a new strategy session, the analyst pseudonymously known as DonAlt tells 66,000 subscribers of the TechnicalRoundup YouTube channel that he believes XRP has more upside potential and could outperform other crypto assets including Ethereum (ETH).
[adinserter block="1"]“I’m a big XRP believer in the sense that I think the XRP price is going to go up, just generally.
I think it’s the best. And I’ve been saying this since [it was priced at] $0.60. I think it’s the best coin to capture altcoin strength this entire market cycle.”
XRP is trading at $2.30 at time of writing, up by around 342% from the November 1st, 2024 price of around $0.52.
The pseudonymous analyst, however, says that while XRP possesses more upside potential than Ethereum, the latter would be a better crypto asset to hold during a downturn.
“If the market goes down, you’re going to be more happy having ETH than XRP. But if the market goes up, you’re going to massively outperform with XRP.”
Ethereum is trading at $1,900 at time of writing, down by around 31% from the November 1st, 2024 price of about $2,500.
Next up is Bitcoin (BTC). According to the pseudonymous analyst, Bitcoin’s recovery after falling to around $76,600 earlier this week is “good” but further downside corrections could indicate a bearish tilt.
“We bounced quite a bit before support [at slightly below $72,000], which I find good. I really don’t want to see us trade below $80,000 for too long. I generally think if we retest $70,000, that’s a massive sign of weakness. And it’s going to be much harder to come back from that.”
Bitcoin is trading at $84,319 at time of writing.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
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 assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
