A well-known crypto trader known online as Don Alt is once again drawing attention to XRP, suggesting that the altcoin could be preparing for another explosive move.
Don Alt, whose previous call on XRP last November preceded a massive 322% rally in under three weeks, hinted on X that a “Round 2” may be underway. Back then, he urged traders to take long positions, calling it “the perfect trade.” The move proved prescient, with XRP dramatically outperforming most of the market.
Since peaking in January at $0.40 on Bitstamp, XRP saw a significant pullback, dropping over 50% before recovering to around $2.31 at the time of writing — up roughly 5% on the day.
Traders are now watching the token closely again, as a potential wave of ETF approvals could inject fresh momentum. At the same time, the XRP Ledger has made technical strides by fully integrating EVM support, potentially opening the door to new developer activity and increased use cases.
Don Alt’s renewed interest in XRP is adding fuel to growing speculation that the token’s next major price movement could arrive sooner rather than later.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/xrp-rally-may-not-be-over-says-trader-who-called-2024-surge/