Crypto Trader Predicts XRP Could Erupt by Over 80%, Updates Outlook on Bitcoin (BTC) and Two Altcoins
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A widely followed crypto analyst predicts a huge rally for Ethereum (ETH) rival XRP while updating his views on Bitcoin (BTC) and two other altcoins.
Pseudonymous trader Altcoin Sherpa tells According to his 183,000 Twitter followers, XRP should rise to $0.60 before eventually reaching $0.87.
“XRP: Move to $0.60 then $0.87 if it breaks. Strange reaction for some of these altcoins.”
XRP is changing hands at $0.49 at the time of writing.
Altcoin Sherpa reaching its $0.87 target represents an almost 80 percent gain for the payment token.
The analyst then brings up Bitcoin, saying that the current price level of the king’s crypto looks “used,” meaning he believes it will drop soon.
“BTC: I think the heart around $18,500 seems well used, it seems likely that the next hearts are coming. 18,000 and 17,500 are the next demand areas up, would remain very cautious.”
The largest crypto asset by market value is trading at $18,873 at the time of writing.
Next on the list of traders is ETH scaling solution Optimism (OP). Altcoin Sherpa says that when he expect bounce for the OP in the short term, he expects it to eventually settle in the $0.50 range.
“OP: This current area is HVN [high volume node] on the volume profile, so maybe it should bounce, but this is still a nice short all the way down to $0.50.
OP is currently trading at $0.926.
Altcoin Sherpa concludes his analysis by highlighting ApeCoin (APE), the Bored Ape Yacht Club’s nonfungible token (NFT) community native asset. He says that APE is currently at a significant price level and that it “looks scary”.
“APE: $5.85 is a significant level IMO, not 1d [one day] closes in almost two weeks. That would mean around $6s, but that’s a strong level. I’m still in my position but took more profit in the $5.90 area. It looks a little scary, so we’ll take a little more profit here.”
APE is valued at $5.62 at the time of writing.
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