The cryptocurrency market has faced selling pressure, with the leading crypto Bitcoin continuing to trade at $100,000 levels. The altcoin market is generally dominated by declines. Despite this pessimistic picture, analysts continue to have optimistic expectations for the future. A popular analyst states that he has received signals of a potential rise in XRP Coin and emphasizes that the leading altcoin is close to triggering a major rally.

$XRP

Although the influence of Jerome Powell, known for his hawkish statements in the crypto market, has increased the selling pressure on Bitcoin and other altcoins, analysts maintain their long-term bullish expectations. Experienced crypto analyst Ali Martinez said that he detected a bullish signal for XRP Coin on the four-hour time frame. At the time of writing, XRP Coin was trading at $2.32. Martinez predicts that XRP has a potential upside of approximately 60% from the current level and explains as follows:

“XRP has been consolidating in this bull flag for quite some time now. However, if it breaks the $2.60 resistance level, I expect the price to gain momentum and rally towards $4!”

$ETH

Martinez also draws attention to Ethereum (ETH) and states that the leading altcoin is on the verge of a major rally. Recalling that Ethereum has exhibited a parabolic movement in past bull cycles, the analyst makes the following statement:

“During the last two bull cycles, Ethereum’s price skyrocketed when long-term investors went into greed mode. We’re just at the beginning of this phase right now. The big move is probably still ahead!”

Meanwhile, Ethereum was trading at $3,627 at the time of writing.

$BTC

Finally, the analyst also focuses on Bitcoin (BTC). Martinez notes that long-term Bitcoin investors are starting to reduce their positions, and this has happened before near market peaks. As in past cycles, the analyst says that the selling by long-term holders signals the final stage before the market reaches its peak:

“Long-term Bitcoin holders often sell close to market tops. In 2017 and 2021, the biggest sell-offs occurred just before the peaks of both uptrends. It will be interesting to see if a similar pattern develops now. Could this be the beginning of a market top?”

Bitcoin was trading at $100,970 at the time of writing.

Despite the current state of the market, analysts are expecting significant increases in major cryptocurrencies such as Bitcoin, Ethereum and XRP Coin. Especially if XRP exceeds the $ 2.60 level, its price will gain momentum, Ethereum will trigger a major rally and Bitcoin will move in parallel with historical sales trends, offering promising signals for investors. However, although there are positive expectations, it should be noted that caution should be exercised considering the volatile nature of the cryptocurrency market.