[ad_1]
Cryptocurrency investor Alex Saunders expects a big rally of relief in the altcoin market is on the horizon after XRP plunges sharply from its 2020 high of $ 0.79.
In a new tweet, Saunders highlights that XRP’s dip to $ 0.46 does not indicate that the altcoin season is over.
“Blood in the streets. Incredible. XRP has retraced 61.8% of the monstrous move it had recently. I don’t think the ALTS are dead. Not at all. We are in a bull market and I think we will see a huge relief rally very, very, very soon. Altseason “.
Traders rely on Fibonacci retracement levels to map the areas where prices could potentially rise after a correction. With XRP hitting the 61.8% Fibonacci level, Saunders believes the third largest cryptocurrency and altcoin, in general, are on the verge of triggering a big rebound.
The investor also notes that XRP offers a solid trading opportunity like him features key support of $ 0.45.
“In 2017, I refused to trade XRP due to my hatred of banks. I left money on the table and was stubborn. Now I keep an open mind, I trade what looks best, I enjoy turning profits into plus ETH. “
As XRP retreats from a monstrous move that saw Ripple’s native assets rise from $ 0.30 to $ 0.79 in less than a week, crypto intelligence firm Santiment reveals which remains the most discussed topic in the cryptoverse.
“XRP is cooling down a bit after its fantastic + 160% rally, but that hasn’t slowed it down from continuing to be the # 1 crypto topic, according to Santimentfeed metrics.”
At the time of writing, XRP is trading at $ 0.55, according to CoinMarketCap.
Disclaimer: Opinions expressed in The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Follow us on Twitter Facebook Telegram
[ad_2]Source link
