A crypto strategist who accurately named the top of Bitcoin’s (BTC) 2021 bull market expects another surge for XRP.
Pseudonymous analyst Pentoshi tells According to its 706,900 followers on social media platform X, XRP is looking bullish after hitting a key resistance level at $0.548.
“XRP fans.
A breakout above $0.548 should lead to $0.62-$0.63.”
At the time of writing, XRP is trading at $0.59, up about 3% in the last 24 hours.
The analyst also updates his forecast on the layer-1 protocol Solana (SOL). According to Pentoshi, bulls are already celebrating SOL’s big rallies lately, which tells him that the crypto asset is about to witness a pullback.
“The timeline is getting a little loud here. Probably a local summit soon, in the purple box.”
Looking at the trader’s chart, he seems to predict that SOL is likely to encounter resistance at $38.70. At the time of writing, SOL is worth $38.59.
Another altcoin on the analyst’s radar is the governance token of the Ethereum (ETH)-based decentralized finance protocol Aave (AAVE). According to Pentoshi, AAVE will see a major breakout rally if it manages to break the resistance at $90.
“This one probably consolidates a little bit more. A break above $90 is likely to yield $112-$115. For the time being, it is the resistance that opens that up.”
At the time of writing, AAVE is trading at $81.81.
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Generated image: Midjourney