An analyst known for timely altcoin calls believes that new record-level prices are on the horizon for the payments altcoin XRP (XRP).
Pseudonymous analyst Pentoshi tells his 870,600 followers on the social media platform X that XRP’s chart looks bullish and that the altcoin might see new all-time high prices in the coming weeks.
But for now, Pentoshi thinks that XRP will take a breather before sparking the next leg up.
“XRP:
This is probably going to do price discovery in the next two weeks as well, in my opinion…
XRP looks disgustingly good even on the BTC pair, to be honest…
Also, one with quite a few tailwinds and held up very well for the past several months.”
As for XRP’s tailwinds, Pentoshi says the altcoin may benefit from Ripple’s push to obtain a banking license and the potential passing of stablecoin regulations into law.
Looking at the broader altcoin market, the trader says he’s now seeing the possibility of rotation from large-cap to mid-cap coins.
“Mostly been in large caps.
So far, they’ve done ver,y very well.
Will probably look out for a few mid-caps for [this] week. (Have not looked at those in a while).
A lot of the charts structurally look great, and I hope we can get a good few weeks out of it and then go from there.”
Mid-cap altcoins are crypto assets with a market cap of $1 billion to $10 billion.
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