November 2, 2023
A crypto strategist who accurately called the top of Bitcoin’s 2021 bull market is expecting another leg up for XRP. Pseudonymous analyst Pentoshi believes that XRP looks bullish after breaking through a key resistance level at $0.548. He suggests that a breakout above $0.548 could lead to a price range of $0.62-$0.63.
At the time of writing, XRP is trading at $0.59, showing a 3% increase in the last 24 hours.
The analyst is also updating his forecast on the layer-1 protocol Solana (SOL). Pentoshi notes that the recent big rallies in SOL have caught the attention of bulls, indicating a potential pullback. Looking at the trader’s chart, he predicts that SOL will likely face resistance at $38.70. Currently, SOL is valued at $38.59.
Another altcoin on the analyst’s radar is the governance token of the Ethereum-based decentralized finance lending protocol Aave (AAVE). Pentoshi suggests that AAVE will experience a significant breakout rally if it manages to surpass the resistance level at $90. He states that a break above $90 could potentially push the price to a range of $112-$115. However, AAVE is currently trading below the resistance level.
In conclusion, the crypto strategist expects XRP to rise, Solana to witness a pullback, and Aave's governance token to aim for a breakout. Investors should conduct their own research and exercise caution when making investment decisions in the cryptocurrency market.
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