Cryptocurrency market is blood bathing! In this environment, the leading crypto Bitcoin also lost the level of 26 thousand dollars. However, some analysts suggest that the 2 altcoin projects are poised to rise.
Famous whale: This altcoin is about to rally!
The famous analyst, nicknamed Kaleo, expects Ripple (XRP) to outperform Bitcoin (BTC). That’s why the analyst predicts bullish price action for XRP. Kaleo predicts that XRP will continue its rise after successfully retesting its diagonal resistance as support. In this context, the analyst says, “XRP low time frame also looks ready for another uptrend.”
According to Kaleo, XRP is likely following in the footsteps of Tron (TRX), which recently rallied from $0.74 to $0.85. “For reference, here is what TRX just did. It is possible that a similar squeeze will push XRP to $0.60+.”
At the time of this writing, the altcoin was trading at $0.52. The analyst then looks at the XRP to Bitcoin ratio (XRP/BTC). Kaleo says that the pair is ready to move higher after breaking above the diagonal resistance. “The XRP/BTC pair also looks ready for a squeeze,” the analyst says.
Meanwhile, fellow crypto strategist Cantering Clark has also been bullish on XRP. The trader says that the altcoin’s price structure is almost ready to rise. Clark states that he wants to accumulate XRP because he believes in it. Accordingly, the analyst makes the following statement:
I haven’t looked at many charts lately. But I’m not going to lie, between the weird spot bid and the launch-looking setup, I guess I need to get started on TWAP (time weighted average price) XRP.
5 reasons for DOGE’s potential price boom!
In a recent video update, the popular crypto market commentary program “Altcoin Daily” said that the price of Dogecoin (DOGE) is about to “explode.” The analyst of the channel listed 5 reasons for this. Here are the analyst’s reasons:
Fluctuation in Transactions: One of the most important indicators of Dogecoin’s growth potential is the significant increase in daily trading volume. Dogecoin has seen more than one million daily transactions, surpassing Bitcoin and Ethereum. This increase in transactions marks the increasing use of Dogecoin for transfers. It is also possible that this could potentially raise the price of DOGE.
Introducing DRC20 Tokens: The increase in Dogecoin transactions is due to the release of DRC20 tokens. This development has expanded the functionality of the Dogecoin network, allowing for the creation of custom tokens. This attracts more users and developers to the platform. Thus, it is possible that it will increase the demand for Dogecoin and potentially raise its price.
Increase in Hash Rate: Another positive indicator for Dogecoin is the notable rise in hash rate over the past few weeks. The increase in the hash rate indicates a healthy and strong network. This shows that more miners are supporting Dogecoin. This increased network security is likely to make Dogecoin more attractive to investors.
Bollinger Bands Indicator: The Bollinger Bands bandwidth suggests that the altcoin price could make a significant move in either direction. An upside move is more likely due to other positive indicators. If this prediction turns out to be correct, a significant increase in altcoin price is likely.
Historical Market Trends: Historically, a surge in Dogecoin’s price has often preceded a bull market in the wider crypto cycle. If this pattern is correct, an increase in Dogecoin’s price could signal a broader market rally. Thus, it is possible that it could potentially lead to a further increase in the price of Dogecoin.
The opinions in the article are those of the analysts and are certainly not investment advice. Considering the volatile and uncertain nature of the cryptocurrency market, cryptocoin.com We recommend you to invest in line with your own research.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.