In a recent YouTube video, the closely followed analyst said XRP has a potential upside of over 100% from the current prices.

Read Also: XRP Finally Breaks 2-Year Trendline, Is 504x Rally Similar To 2017 Bull Market Incoming?

DonAlt Has Resumed the Accumulation of XRP

According to DonAlt, the owner of TechnicalRoundup YouTube channel, he has resumed buying XRP after taking profit on positions he entered in November of 2022.

However, the urges in-house and potential investors to take caution as trading XRP is not without risk.

Going by DonAlt, the bullish thesis for XRP will be invalidated if the price of the sixth-largest cryptocurrency by market cap drops below $0.46.

DonAlt noted:

“I’ve been re-buying my XRP in here [above the $0.475 level], basically on the way up because I think the XRP narrative could come in rolling again. The SEC case is getting closer and closer.

“I think basically if you have a stop loss on this thing, the upside is like a double to a triple. And the downside is like… 10 – 15%.

“And the outcome of the case, or even if it’s like just barely positive news right… it doesn’t even have to be the outcome. If there’s just like a frown on the judge’s face while the SEC is talking, basically you’re gonna see quite a massive pump. And so like that risk-to-reward seems decent…

Read Also: Google’s Bard Opinion on XRP Price for the End of 2023. States Factors to Aid Price Rise

“Obviously, you have to be careful on this as well. Easy way to lose a bunch of money…

“What’s the invalidation for XRP? Fall back below $0.46 on the weekly [chart]. Like if we start losing this horizontal support [at around $0.46], we’re probably going to lose this diagonal [ascending trend line] too.”

At the time of writing, XRP is trading at $0.5159, with a relatively 2% price upsurge in the last 24 hours and an 11.18% upsurge in the last seven days.

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In a new strategy session, DonAlt showcased his readiness to scoop up XRP if the crypto market faces another sell-off. He said, “If I get a breakdown on Bitcoin, the one coin that I want to be buying is XRP.” 

Read Also: Macro Expert Raoul Pal Says He’s Bullish on XRP, Hopes Ripple Wins to Boost XRP Price

According to the vastly followed analyst, he’s looking forward to seeing XRP trade around $0.38 or below again in order to buy more. However, he thinks there is a good chance that this will not happen considering XRP’s current bullish pattern and trend.

“I feel like, I’m just looking at this chart [and] this wants to go up.”

DonAlt further stated that his bullishness goes beyond the charts. He’s also positive that Ripple, the cross-border payment firm that oversees the distribution of XRP, will win the ongoing lawsuit with the United States Securities and Exchange Commission (SEC).

Read Also: Big Win For Ripple and XRP: Judge Torres Orders SEC to Release Hinman Emails

He believes any kind of bottom is good for XRP because once Ripple wins the case, the embattled digital asset will see a meteoric price surge.

“I still think they’re going to win the case so any kind of bottom in crypto I think will moon XRP hard. I know the Bitcoin pair (XRP/BTC) looks really good as well. It’s one of the best-looking charts in crypto right now.” 

At the time of filing this report, XRP is trading at $0.5292, with a relatively 1% price upsurge in the last 24 hours and a 14% increase over the last 7 days, according to CoinMarketCap.

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The post Top Analyst Says He’s Ready to Grab XRP if Market Sees another Sell-Off appeared first on Times Tabloid.

In the latest Technical Roundup newsletter, the pseudonymous analyst DonAlt stated that XRP breached a critical resistance at $0.40. He then opined that XRP is worth holding until reaching the $0.6 price level.

Read Also: Jeremy Hogan Explains Ripple-SEC Summary Judgment Motions, Says Ripple Pulls the Rug

DonAlt noted:

“The USD pair broke out from its $0.40 range high and stalled around $0.50. Larger resistance rests at $0.60, but round number short-term trading this thing has been very viable as a strategy. [DonAlt’s] view is that the $0.40 breakout is significant and therefore worth holding at least until $0.60 is tagged…

“Given these levels are nearby and untagged, and also considering the recent green candles in the crypto majors, [DonAlt] is still holding out for another leg. Invalidation is a total loss of momentum and/or a move back below the breakout levels.”

Why DonAlt Is Bullish on XRP and Thinks $3 is Possible

A couple of days ago, the pseudonymous crypto analyst DonAlt said his bullishness on XRP is based on the positive reports surrounding the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC).

Seeing a possibility of an over 600% surge from its current price made the analyst set a $3 price target for XRP. This he believes is if things eventually turn out positive for Ripple in the XRP lawsuit.

DonAlt said, “In general, I would like to hold this until the SEC news gets hotter because that’s kind of the narrative it has, and that’s one the factors in me wanting to buy this thing and me actually looking at it for so long. If they win the trial… I think it’s just going to giga moon basically…

If that goes, a lot of people will buy back in. I will sell into that pump if I get it… If Bitcoin was looking solid into $21,000, was just chilling, I would just hold this to $1 if not $2 or $3.”

Read Also: Chamber of Digital Commerce Formally Requests to File Amicus Brief to Support Ripple in XRP Lawsuit

Meanwhile, Ripple has recorded a fresh big win against the SEC in the ongoing lawsuit. In the latest ruling, Judge Analisa Torres has ordered the SEC to surrender the drafts of William Hinman’s speech of 2018 to Ripple.

Expectedly, the ruling has brought positive results for XRP within the last few hours in terms of price. At the time of press, XRP is trading at $0.49, with a relatively 11% price upsurge in the last 24 hours, according to CoinMarketCap.

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The post Analyst Doubles Down On His Bullish XRP Price Prediction, Sets Price Target appeared first on Times Tabloid.

In a new strategy session, the analyst stated that he hopes to see Bitcoin gathering momentum in the short term before embarking on a meteoric upside trend in the next month.

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Although DonAlt remains bullish on Bitcoin (BTC), he still expects the flagship crypto to retrace to the $18,000 price level.

DonAlt noted:

 “There’s a good chance that we’re going to have small candles to the upside for the next three, four, five weeks, and then a pop up at some point. That’s my most likely scenario.” 

“Obviously, it’s also possible to come back into this weekly support. I don’t think it would break on the second test. We tested it once. It’s an excellent support level. Even if we round out of comeback, I think it’s going to hold on to the second test as well…

Read Also: Top Analyst Says Bitcoin (BTC) Could Soon Rebound Beyond Traders’ Expectation, Sets a Price Target

“But at that point, you’d have to start wondering whether any bounce that you get is one to sell into because that would look bad. That’s the bearish thesis. If this plays out, I think we’re going to hold $18,000 – $19,000.

“If you’re playing it bullishly, slow crawl up into resistance ($30,000), into liquidation through resistance would make a lot of sense to me. Those are the two most likely outcomes.”

At the time of filing this report, Bitcoin (BTC) is trading at $21,115, with a relatively 4% price downtrend in the last 24 hours, According to CoinMarketCap.

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The post Popular Strategist Maps Out Two Most Likely Scenarios for Bitcoin (BTC) in Coming Weeks appeared first on Times Tabloid.

In a recent strategy session, DonAlt stated that he has been closely watching the stock market because he believes that the crypto market remains correlated to the S&P 500.

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The analyst pointed out that the S&P 500 has bounced from a monthly support level around 3,600. He then predicted that the index will possibly continue to rally this week.

DonAlt also pointed out that a sustained S&P 500 recovery this week is good for crypto assets, especially altcoins.

DonAlt noted:

“[The S&P 500] is starting to run into resistance now but honestly, I wouldn’t want to short that resistance… I don’t think this is one based the fact that we had a breakdown and an immediate, almost full, engulfing candle. I still think the next week could be bullish even if we close at resistance here…

“That’s going to be good for any crypto bag, be it altcoins or Bitcoin. Bitcoin bounced from weekly support as well. Like I said, [I’m] hoping it curls upwards, walks slowly, altcoins go ballistic.”

Read Also: MicroStrategy CEO: We’re In Here for the Long Term, Bitcoin (BTC) Is Going to Outclass All of Us

DonAlt Maps Out Path Ahead For Bitcoin (BTC)

As for Bitcoin (BTC), the largest cryptocurrency by market cap, DonAlt said he expects it to keep consolidating around $20,000, which he thinks would enable altcoins to continue rallying.

The crypto strategist added that there is a possibility for Bitcoin to continue trading between $18,000 and $34,000 for the next 12 months.

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