A crypto strategist known for accurately calling the 2021 digital asset cycle peak believes that one top-10 altcoin is poised for a massive breakout.
The analyst pseudonymously known as Pentoshi tells his 870,200 followers on the social media platform X that payments altcoin XRP is looking bullish after reclaiming the lower bound of a trading range at $2.38.
The analyst also says that XRP is showing strength against Bitcoin (XRP/BTC), signaling a possible breakout.
“XRP looks disgustingly good even on the BTC pair to be honest. Think this is going to $2.60 minimum. Flip that then the highs are back on the table. Also one with quite a few tailwinds and held up very well for the past several months.”
XRP is trading for 0.00002192 BTC ($2.43) at time of writing.
Next up, the analyst says Bitcoin’s latest rally may have more room to run as it appears on the verge of flipping the level around $110,000 into support – especially if BTC bull Michael Saylor, founder and executive chairman of software firm Strategy, makes another large purchase of the flagship crypto asset.
“BTC ATH waiting room. Saylor back on the bid this week, shouldn’t take much to push it to a new high now.”
Bitcoin is trading for $111,312 at time of writing, up 2.2% in the last 24 hours.
Lastly, the analyst says Ethereum may be gearing up for a breakout as ETH treasury companies emerge.
“ETH ETFs (exchange-traded funds) bought 80,000 ETH [Wednesday]. The treasury companies are buying more than the max issuance each day by far. TradFi (traditional finance) FOMO (fearing of missing out) is coming. Just a bit more patience.”
He predicts if ETH can flip $2,800 into support, the altcoin will soon print a more than 14% price increase.
“After $2,800, I think $3,200 can come pretty quick.”
Ethereum is trading for $2,767 at time of writing, up 4.3% in the last 24 hours.
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Featured Image: Shutterstock/Natalia Siiatovskaia/nur hafidiatama
