Crypto Strategist Predicts Major Breakout for Top-10 Altcoin
A well-known crypto strategist who accurately predicted the peak of the 2021 digital asset cycle is now setting his sights on one of the top-10 altcoins that he believes is poised for a massive breakout.
Pentoshi, the analyst who shares his insights with over 870,200 followers on X, recently discussed his bullish outlook on payments altcoin XRP. According to Pentoshi, XRP is showing signs of strength after reclaiming the lower bound of its trading range at $2.38 and is now on the verge of a breakout.
Specifically, Pentoshi pointed out that XRP is looking strong against Bitcoin (XRP/BTC), indicating a potential rally ahead. He stated, “XRP looks disgustingly good even on the BTC pair to be honest. Think this is going to $2.60 minimum. Flip that then the highs are back on the table.”
As of the time of writing, XRP is trading at 0.00002192 BTC ($2.43).
Bitcoin Rally Expected to Continue
In addition to his bullish outlook on XRP, Pentoshi also commented on the recent rally in Bitcoin. He suggested that Bitcoin’s price may have more room to run, especially if BTC bull Michael Saylor makes another significant purchase of the flagship cryptocurrency.
Pentoshi said, “BTC ATH waiting room. Saylor back on the bid this week, shouldn’t take much to push it to a new high now.”
At the time of writing, Bitcoin is trading at $111,312, up 2.2% in the last 24 hours.
Ethereum Gearing Up for a Breakout
Lastly, Pentoshi shared his thoughts on Ethereum, noting that the emergence of ETH treasury companies could signal a breakout for the popular altcoin. He mentioned, “ETH ETFs bought 80,000 ETH [Wednesday]. The treasury companies are buying more than the max issuance each day by far. TradFi FOMO is coming.”
If Ethereum can flip $2,800 into support, Pentoshi predicts a price increase of over 14%, with $3,200 as the next target. Ethereum is currently trading at $2,767, up 4.3% in the last 24 hours.
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