An analyst known for making timely altcoin predictions believes that the payments altcoin XRP (XRP) is heading towards new record-level prices in the near future.
The pseudonymous analyst Pentoshi shared on social media platform X with his 870,600 followers that XRP’s chart is showing bullish signs, indicating a potential for new all-time high prices in the coming weeks.
However, Pentoshi also mentioned that XRP might take a pause before starting its next upward trend.
“XRP:
This is probably going to do price discovery in the next two weeks as well, in my opinion…
XRP looks very promising even in the BTC pair, to be honest…
Also, it has several tailwinds and has performed consistently well over the past few months.”
Pentoshi mentioned that XRP could benefit from Ripple’s efforts to acquire a banking license and the potential regulation of stablecoins.
Regarding the broader altcoin market, the trader noted a possible rotation from large-cap to mid-cap coins.
“I have mostly focused on large caps so far, and they have performed very well. I might explore a few mid-cap coins this week, as many charts look promising. Hopefully, we will see positive trends in the coming weeks.”
Mid-cap altcoins are digital assets with a market capitalization ranging from $1 billion to $10 billion.
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