Altcoin Sherpa, a popular crypto analyst, is bullish on XRP and has shared the key support level investors need to watch. The trader believes that the token is set to experience a massive rally.
The expert used the Fibonacci retracement tool to predict an XRP retracement to the $0.46 level, which is the 0.5 Fibonacci level, and then a move to the upside. The trader placed a bid of $0.466 for the standard.
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As of the time this article was written, XRP is trading at $0.51, and if Altcoin Sherpa’s prediction holds true, XRP could experience a significant price surge sooner than most are expecting.
Liquity (LQTY)
Altcoin Sherpa also highlighted Liquity (LQTY), a decentralized borrowing protocol that is Ethereum-based, and believes that the altcoin is forming a bottom and could soon break out. The trader noted that Liquity’s swing trade charts look promising and that the coin could see substantial gains in the near future.
Ethereum (ETH)
In addition to XRP and Liquity, the expert weighed in on Ethereum, stating that a bottom may have formed on the ETH/BTC chart. If a bottom has formed, the trader predicts that ETH and other altcoins will surge in the short term. However, he also predicts a dip for ETH/BTC in the long term.
Also Read: Ethereum Price Prediction 2023, 2024, 2025, 2026 – 2030.
Dogecoin (DOGE)
Altcoin Sherpa likewise commented on Dogecoin (DOGE), stating that the meme token’s recent pump may not sustain. The trader noted that typically, illiquid moves up are followed by a swift retrace. The first resistance area is approaching, and he believes that DOGE will likely tumble all the way down after the Twitter icon is eventually changed.
Related: Dogecoin Price Prediction: Can DOGE Continue Surging After Twitter Rebrand, and Is Love Hate Inu Going to Follow?
Source: https://coinpedia.org/altcoin/eth-doge-xrp-price-poised-for-massive-surge-heres-what-to-expect/