A crypto trader who accurately predicted the Bitcoin (BTC) bottom in November 2022 is leaning bullish on one top altcoin.
In a new strategy session, the trader pseudonymously known as DonAlt tells 66,100 subscribers of the TechnicalRoundup YouTube channel that XRP (XRP) has exhibited “incredible strength” over the last couple of weeks relative to other crypto assets.
[adinserter block="1"]“And the reason why is because this is exceptional strength. Compare XRP/Bitcoin to Solana/Bitcoin. Or like XRP to Solana in general. Like that’s some insane strength against like one of the best altcoins this cycle.”
Going forward, the pseudonymous analyst says XRP is likely to continue on an upward trajectory.
“As long as the market keeps going up, I think this going to continue going up. It’s going to be basically one of the strongest coins, at least from the big ones.
Basically, one big move up into one big consolidation… …And most of the time in my experience when you get something like this you get another pop. Usually smaller than the first one but still sizable enough. And that’s kind of what I’m betting on…
…If Bitcoin holds on I think, and if all coins generally… like the moment you see a little bit of altcoin strength, I think XRP is going to outperform.”
The trader who entered a long position on XRP at a price of around $0.60 says he will offload his entire position on the fourth-largest crypto asset by market cap if XRP appreciates by roughly 4x from the current level.
“If XRP gets anywhere close to $10, I will dump everything and just be happy with what I got.”
XRP is trading at $2.39 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
