Cryptocurrency strategist Ali Martinez claimed that after nearly seven years of dormancy, XRP's price is expected to surge significantly. He stated on the social media platform X to his 96,200 followers that before this bull market cycle ends, XRP's price could rise at least 245% from its current level.
Martinez pointed out that after XRP broke the diagonal resistance that had made the market bearish since January 2018, it is expected to rise further based on Fibonacci extension levels.
He commented: "To some, XRP might seem overbought! But in my view, after breaking this major multi-year symmetrical triangle, it is actually undervalued. The conservative target is $8.40, while the optimistic target reaches $48.12."
He also mentioned that XRP has formed three consecutive bullish continuation patterns, showcasing the strong strength of this altcoin, and it is expected that XRP will retrace, fall back to $2.25, and then aim for a target of $4.40.
The strategist also focused on the meme token PEPE. He noted that cryptocurrency whales significantly increased their holdings of PEPE over the weekend, while also mentioning Ethereum (ETH).
The current price of ETH is $3,753, and it is expected to reach a new high. Martinez predicts that if ETH maintains its current support level, it will challenge its historical peak.
He used the IOMAP indicator to clarify the support and resistance levels of ETH, asserting that as long as the demand zone of $3,560 remains solid, it is favorable for bulls.
Currently, the trading price of XRP is approximately $2.25, having fallen more than 2% in the past day; PEPE rose 2% to $0.0000263.#BTC00929
Ali Martinez's price target predictions for XRP, PEPE, and ETH suggest that the cryptocurrency market will continue to fluctuate. Traders can closely monitor market dynamics through technical analysis to seize potential opportunities and risks.
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$ETH $XRP $PEPE
