Crypto strategist Ali Martinez stated that XRP could experience significant increases in prices after a nearly seven-year dormancy period. In a statement to his 96,200 followers on social media platform X, he said that XRP could gain at least 245% from current prices before the end of the bull market cycle.
Predictions Based on Fibonacci Analysis
Based on the Fibonacci extension levels that traders use to identify potential breakout points, Martinez suggested that XRP could climb much higher after breaking the diagonal resistance level that has kept the market bearish since January 2018.
“XRP may seem overbought to some! In my opinion, it looks undervalued after breaking out of this large perennial symmetrical triangle. Conservative target = $8.40, Optimistic target = $48.12.”
Martinez stated that XRP formed three consecutive bullish continuation formations and pointed out that the altcoin showed great strength. The analyst stated that XRP has drawn three consecutive bull flags and is expecting a retest for the price to pull back to $2.25 and move back towards the $4.40 target.
Other Cryptocurrency Analysis
The analyst also kept his eyes open on meme token PEPE. While crypto whales significantly increased PEPE stocks over the weekend, Ethereum (ETH) $3,746.8 He said that the altcoin is ready to break new records. He predicts that if ETH remains above the current support level, it could reach new all-time highs.
Martinez stated that he determined the support and resistance levels for ETH using the IOMAP metric and that the bulls are in favor as long as the $3,560 demand zone is maintained.
Currently, XRP is trading at $2.25, down over 2% in the last day. PEPE is at $0.0000263 with an increase of 2%. Ethereum is traded at $3,753.
Conclusion
Analyst Ali Martinez’s price targets for XRP, PEPE and ETH indicate that activity in the crypto market may continue. Investors can closely follow market developments based on technical analysis.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
