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XRP Price Set For 80% Extended Rally, While Bitcoin Price Might Retest This Bottom Level

The post XRP Price Set For 80% Extended Rally, While Bitcoin Price Might Retest This Bottom Level appeared first on Coinpedia Fintech News

A well-known crypto strategist and trader has come up with his analysis portraying his bullish stance for Ripple’s XRP, while he gives price targets for Bitcoin (BTC), Optimism (OP), and ApeCoin (APE)

The analyst who is anonymously known as Altcoin Sherpa believes that the XRP price is all set to rally towards $0.60 before the altcoin hits a target of $0.87

$XRP : Go to .60 and then .87 if that cleanly breaks. Bizarre reaction for some of these altcoins. #Ripple #XRP — Altcoin Sherpa (@AltcoinSherpa) September 23, 2022

However, at the time of writing, XRP has plunged by 6.21% over the last 24hrs and is trading at $0.508. If the XRP price performs as per the analyst’s target of $0.87, the currency will have to rise nearly 80% from its current price.

Bitcoin (BTC)

Next, Altcoin Sherpa talks about the world’s first cryptocurrency, Bitcoin (BTC). He believes that the King currency is about to plunge. The strategist warns traders to trade cautiously as Bitcoin might drop below the $17,500 price levels

$BTC : I think that the wick around $18.5k seems very spent, it seems likely that the next wicks up are coming. 18k and 17.5k are the next demand areas up, would stay very cautious. #Bitcoin — Altcoin Sherpa (@AltcoinSherpa) September 23, 2022

Currently, Bitcoin is changing hands at $19,121 after a drop of 1.37% in the last 24hrs.

Optimism (OP)

The next currency that has caught the trader’s attention is Optimism (OP), which is an Ethereum scaling solution. The analyst predicts that Optimism (OP) will experience a short-term bounce before the currency marks its area around $0.50 area. Altcoin Sherpa claims that at present Optimism (OP) is in the high volume node (HVN) in terms of volume.

$OP : This current area is a HVN on volume profile so it should maybe bounce but this is still a comfortable short all the way down to .50 IMO. — Altcoin Sherpa (@AltcoinSherpa) September 23, 2022

At the moment, OP is selling at $0.94 after a plunge of 3.18% on the last day.

ApeCoin (APE)

Before Altcoin Sherpa concludes his strategy session, he refers to ApeCoin (APE) which is a native currency of the Bored Ape Yacht Club non-fungible token (NFT) community. As per the expert, the current status of ApeCoin (APE) is quite scary by which he refers that there is more room for profit if the currency manages to reclaim the $5.90 area.

$APE : $5.85 is a significant level IMO, no 1d closes over there in almost 2 weeks. Doing so would mean mid $6s but it's a strong level. I still am in my position but I took more profits around the 5.90 area. It looks a bit scary, so taking a bit more profits here. #APECOIN — Altcoin Sherpa (@AltcoinSherpa) September 23, 2022

Currently, ApeCoin is selling at $5.64 after a drop of 4.41 in the last 24hrs. shares this Contents always with License.

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