As the cryptocurrency market advances towards the next phase of the ongoing bull run, industry analysts anticipate significant growth in altcoins, with XRP and Solana among the key assets expected to benefit.
Market commentator Erwin has presented his latest forecasts, outlining his projections for notable cryptocurrency assets should Bitcoin’s price reach $120,000, an increase of 88% from its current valuation.
In his report, Erwin highlights that altcoins like Solana and XRP have the potential for remarkable growth in the event of such a Bitcoin rally. Although these two assets are on different trajectories, both are poised for significant gains in the near future, according to his predictions.
Solana Forecast: A Potential 529% Gain
Solana (SOL), a high-performance blockchain network, is currently priced at $151. Despite market fluctuations, Solana has shown substantial growth in the first phase of the 2023-2024 bull market.
The altcoin hit a two-year high of $210.18 in March 2024, surpassing $200 and reflecting a significant rise from its Q4 2023 low of $23.88. This period of growth marked an increase of 779%.
However, following this peak, Solana’s value underwent a correction. Despite this, its current price still represents a 519% rise compared to its price in late 2023.
Erwin forecasts that Solana has the potential to achieve even greater heights, suggesting that the asset could increase by 529%, ultimately reaching a new all-time high of $950. If this happens, Solana could exceed its previous record price of $259, achieved during the 2021 bull market.
XRP: Positioned for an 823% Surge
Unlike Solana, XRP’s performance has been somewhat subdued throughout the current bull market’s first phase. The token, embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC), only peaked at $0.74 during the initial bullish wave—a 42% increase from its starting price in Q4 2023. This lackluster performance has been attributed to the uncertainties surrounding the ongoing SEC litigation.
Despite the hurdles XRP has faced, market sentiment is gradually shifting, with optimism growing about its potential in the upcoming phase of the bull run. As the market braces for another upward trend, XRP could cross the $1 threshold for the first time in three years.
Erwin is particularly bullish, projecting an 823% surge in XRP’s price, which could reach $5 from its current level of $0.5413. The forecast comes despite the asset recently dipping to $0.52 after the SEC’s appeal in the Ripple lawsuit.
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Other Major Altcoin Projections
In addition to Solana and XRP, Erwin has also made projections for several other key cryptocurrencies. He expects Ethereum (ETH) to experience a 301% rise, potentially reaching $10,000.
Binance Coin (BNB), another market leader, could climb by 193%, achieving a price of $1,700. Emerging cryptocurrencies such as TAO are also included in his forecast, with an estimated cost of $2,100, while Chainlink (LINK) could rise to $150.
These predictions underscore the growing confidence in the altcoin market as the broader crypto space recovers from recent market corrections. According to Erwin, if Bitcoin achieves the anticipated price level of $120,000, it could catalyze a broader market surge, particularly benefiting high-potential altcoins like Solana and XRP.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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