Analyst and trader Ali Martinez is leaning bullish on the third-largest crypto asset by market cap, XRP.
Martinez tells his 100,500 followers on the social media platform X that XRP is flashing a bullish signal on the four-hour time frame and could soar by around 57% from the current level.
“XRP has been consolidating in this bull flag for a while, but once it clears the $2.60 resistance, I think it’s off to the races, heading toward $4!”
XRP is trading at $2.55 at time of writing.
Next up is Bitcoin (BTC). According to Martinez, long-term holders of Bitcoin are reducing their positions, a phenomenon that coincided with a market top during the last two BTC cycles.
“Long-term Bitcoin holders often sell near market tops. Interestingly, in 2017 and 2021, their biggest sell-offs occurred right before the final leg up.
Could we be on the verge of a similar pattern? Is this the start of a market top?”
Bitcoin is trading at $104,919 at time of writing.
Next up is Ethereum (ETH). The crypto trader and analyst says that Ethereum could be on the cusp of a massive rally.
“In the past two bull cycles, Ethereum went parabolic when long-term holders shifted into greed mode. Right now, they’re only in the early stages of the belief phase. The big move could still be ahead!”
Ethereum is trading at $3,866 at time of writing.
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Generated Image: Midjourney
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