Renowned market expert Sherpa has shared his optimistic predictions for Hyperliquid, a notable altcoin currently positioned among the top 30 by market capitalization. In a recent post on the social media platform X, he informed his 239,700 followers that he anticipates a potential increase of at least 116% for Hyperliquid by the cycle’s conclusion.
What Makes Hyperliquid Stand Out?
Sherpa conveyed confidence in Hyperliquid’s capabilities, particularly its significance in the decentralized finance sector. With a trading price around $23.16, he pointed out the project’s robust foundations that support his positive outlook.
“I believe HYPE is a fantastic project and forecast it will surpass $50 in this cycle. It meets many factors and is why it’s in my portfolio. Instead of rushing into a position, I plan to make additional investments.”
Is XRP Still a Good Investment?
Despite XRP‘s strong performance near its all-time high, Sherpa advised caution, suggesting it may not be suitable for long-term holdings. He pointed out that XRP is currently trading below Hyperliquid’s price, which raises concerns.
“I do not recommend buying more at this position. This is the previous all-time high, a natural pullback point. You should be patient and consider adding more after waiting for a bit, hoping for a price drop.”
In addition to Hyperliquid and XRP, Sherpa assessed the prospects of Cardano and Dogecoin. He noted that Cardano is showing strength and could benefit from the upward movement of other leading altcoins. Dogecoin, trading at $0.412, also appears resilient.
- Hyperliquid may exceed $50, according to Sherpa’s forecast.
- XRP’s near all-time high presents a risk for long-term investments.
- Cardano shows potential for continued gains.
- Dogecoin remains robust, with a possibility of returning to its 42-month high.
Sherpa emphasized the importance of analyzing market conditions and specific cryptocurrency dynamics. He encouraged investors to perform thorough research prior to making any investment choices, as the cryptocurrency landscape remains intricate and ever-changing.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/will-hyperliquid-surge-beyond-50-soon