Analyst and trader Ali Martinez is leaning bullishly on the third-largest crypto asset by market cap, XRP.
Martinez tells its 100,500 followers on the social media platform
“XRP has been consolidating in this bull flag for a while now, but once it clears the USD 2.60 resistance, I think it’s off to the races towards USD 4!”
XRP is trading at $2.55 at the time of writing.
The next step is Bitcoin (BTC). According to According to Martinez, long-term holders of Bitcoin are reducing their positions, a phenomenon that coincided with a market top during the last two BTC cycles.
“Long-term Bitcoin holders often sell near the market top. Interestingly, in 2017 and 2021, the biggest sell-off occurred just before the final stage.
Could we be on the verge of a similar pattern? Is this the start of a market top?”
Bitcoin is trading at $104,919 at the time of writing.
The next step is Ethereum (ETH). The crypto trader and analyst say that Ethereum could be on the verge of a huge rally.
“In the past two bull cycles, Ethereum went parabolic as long-term holders shifted into greed mode. Right now they are just in the beginning stages of the faith phase. The big step may still lie ahead!”
Ethereum is trading at $3,866 at the time of writing.
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