Popular crypto analyst and trader Jason Pizzino thinks XRP is in a promising trend for long-term holders.
In a new video, Pizzino told his 263,000 YouTube subscribers that XRP has been climbing higher for nearly a year despite the bad news the cryptocurrency is facing.
The US Securities and Exchange Commission sued payment network Ripple in December 2020, alleging it was selling XRP as an unregistered security. However, Pizzino states that XRP has also endured lower highs.
“The trend is still very uncertain, but [XRP] It is trying to make short-term progress towards the bullish side.”
XRP is trading at $0.77 at the time of writing. The sixth-ranked crypto asset by market cap is up more than 9% compared to last week.
Pizzino also estimates that Ethereum (ETH) is poised for a “reasonably short-term low”. The analyst states that the $3,180 level will be a “critical” price point for Ethereum to recover in the short term before it moves up again. ETH is trading at $3,110 at the time of writing and has gained about 2.81% in the past seven days.
Pizzino also says that Ethereum rival Solana (SOL) has resisted after falling from its recent relief rally.
“The good news right now is that, [SOL] been standing for the past few days. It is holding at the Higher low (a higher low than the previous low) and above the downtrend. That’s exactly what we’ve been waiting for, eventually the downtrend should reverse and bring some kind of energy back to the market because it fell very heavily from November’s highs.”
Solana’s native token SOL is trading at $106.78 at the time of writing. The seventh-ranked crypto asset by market cap is up 0.28% compared to last week.
Pizzino adds that SOL really needs to get $110 back “sooner or later.”
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.