- Altcoin expert says $1.10 is the level to watch next for XRP.
- Bullish targets for the assets set at $5 and $10.
- XRP could still sink again to $0.90.
The crypto community is eagerly watching the prices of Bitcoin and Ethereum, hoping that these pioneer crypto and altcoin assets will enter a bull market trend. At the moment, the hope is that these two assets will break over a final resistance level, turning the market bullish. Meanwhile altcoin expectations are growing steadily bullish as an altcoin expert says $1.10 is the level to watch next for XRP.
Altcoin Expert Says $1.10 Is the Level to Watch Next for XRP
Altcoin expectations have been repeatedly crushed over the previous bull market phase when the price of BTC went on to surge from the $60,000 price range to that of $126,000. During this time, altcoin prices barely pumped, with only a handful of tokens setting new ATH highs, yet none nearly as impressive as that of Bitcoin’s bullish rally over the entire bull market cycle.
With altseason being completely skipped, sentiments were low throughout the cycle and far worse in the year-long bear market that followed. Now, with the latest price pump for both BTC and ETH, analysts declared that the bear market phase has come to an end and that the crypto market is in the early phase of the start of a bull market. From here, analysts wait patiently for a confirmation sign.
Recently, both the prices of BTC and ETH surged at an impressive rate, breaking past several bullish resistance levels only to have stopped before the final two. In detail, for BTC, analysts believe the final barrier lies between the $82,000 – $84,000 price range. Once this barrier is broken through, analysts are certain that the real bull market phase will have begun. At the same time, the price of ETH is expected to surge above $3,000.
Bullish XRP Targets Set at $5 and $10
The rise in the price of ETH will also lead to a steady rise in the prices of all altcoins as well. Presently, the total altcoin price chart is nearing the completion of a multi-year bull pattern. Accompanying that is various bullish indicators across multiple altcoin price charts. Among the many bullish altcoins in the market at the moment, those that are gaining a lot of attention at the moment include assets like NEAR, FET, FIL, SUI, XRP, and many more.
As we can see from the post above, the price of XRP has now spent two weeks consolidating underneath the macro .618 resistance, and has since broken below the .5 retracement. Technically, that .5 break was the invalidation the expert was using for a clean W4 that could’ve taken XRP directly toward $1.77. That easy, clean path up isn’t looking so clean anymore, she concludes.
At this point, she expects it’s more likely XRP comes down to test the subwave 2 area around $1.10, which essentially gives us another test of the macro .786. If XRP is trying to establish a new trend, this is exactly where buyers are expected to step in and defend support. If $1.10 holds, XRP can start looking again at the possibility of a macro trend shift. If it doesn’t hold, then the door remains open for XRP to make another low toward $0.90.
