Analyst Predicts New Record Highs for XRP as Altcoin Market Gains Momentum
An analyst renowned for his accurate altcoin predictions has set his sights on XRP, the popular payments altcoin, forecasting that it is poised to reach new all-time high prices in the near future.
Pentoshi, a pseudonymous analyst with a significant following on social media platform X, recently shared his bullish outlook on XRP’s chart, suggesting that the altcoin could see a significant price surge in the coming weeks. However, he also believes that XRP may experience a brief consolidation phase before embarking on its next upward movement.
“XRP:
This is probably going to do price discovery in the next two weeks as well, in my opinion…
XRP looks disgustingly good even on the BTC pair, to be honest…
Also, one with quite a few tailwinds and held up very well for the past several months.”
Pentoshi also highlighted some positive factors that could contribute to XRP’s potential price surge, including Ripple’s pursuit of a banking license and the anticipated regulations surrounding stablecoins.
When looking at the broader altcoin market, Pentoshi mentioned a potential shift from large-cap coins to mid-cap coins. He expressed interest in exploring mid-cap altcoins, noting that many of them have promising chart structures and could offer profitable opportunities in the coming weeks.
“Mostly been in large caps.
So far, they’ve done very, very well.
Will probably look out for a few mid-caps for [this] week. (Have not looked at those in a while).
A lot of the charts structurally look great, and I hope we can get a good few weeks out of it and then go from there.”
Mid-cap altcoins typically have market capitalizations ranging from $1 billion to $10 billion, offering investors a diversified range of investment options within the cryptocurrency market.
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