A widely-followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP, updating his outlook on Bitcoin (BTC) and two other altcoins.
Pseudonym Trader Altcoin Sherpa says His 183,000 Twitter followers say that XRP should rise to $0.60 and eventually rise to $0.87.
“XRP: Move to $0.60 and then $0.87 if it clearly breaks out. Strange reaction for some of these altcoins.”
At the time of writing, XRP is changing hands at $0.49.
The rally against the altcoin Sherpa’s target of $0.87 would mark an almost 80% increase for the payment token.
The analyst then brings up the bitcoin, Saying That the current price level of King Crypto seems to be “spending”, which means that he believes it will fall soon.
“BTC: I think the wick around $18,500 is overpriced, looks like the next wick is coming. 18,000 and 17,500 are the next demand areas, be very cautious.
At the time of writing, the top crypto asset by market cap is rising to $18,873.
The next ETH scalping solution on the traders list is Optimism (OP). Altcoin Sherpa says that while he Hope A bounce for OP in the near term, he expects an eventual settlement around the $0.50 area.
“OP: This current area is an HVN [high volume node] On the volume profile, so it should bounce up, but it’s still a comfortable short all the way up to $0.50 in my opinion.”
OP is currently trading at $0.926.
Altcoin Sherpa concludes its analysis by bringing in Apécoin (APE), the native asset of the Bor Ape Yacht Club non-fungible token (NFT) community. He They say That APE is currently at a critical price level and it “looks scary.”
“APE: $5.85 is an important level IMO, No. 1D” [one day] Closes there in about two weeks. Doing so would mean mid $6s, but this is a strong level. I am still in my position but I have made more profit around the $5.90 area. It looks a little scary, so there’s a little bit more profit to be made here.”
At the time of writing the APE is priced at $5.62.
Check out the latest news headlines
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loss you may incur is your responsibility. Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Daily Hodl an investment advisory. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Yanabu