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Crypto Trader predicts XRP could break out over 80%, updates outlook on Bitcoin (BTC) and two altcoins

A popular crypto analyst is forecasting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins.

Pseudonymous trader altcoin Sherpa tells his 183,000 Twitter followers that XRP should rally to $0.60 before eventually rallying to $0.87.

“XRP: Go to $0.60 then $0.87 if that breaks clean. Bizarre reaction for some of these altcoins.”

Source: Altcoin Sherpa/Twitter

XRP is changing hands at $0.49 at the time of writing.

A rally to altcoin Sherpa’s $0.87 target would see the payment token surge nearly 80%.

The analyst then brings up bitcoin, saying that the king crypto’s current price level appears to be “spent,” meaning he believes it will drop soon.

“BTC: I think the wick seems very spent around $18,500, it seems likely that the next wicks will come. 18,000 and 17,500 are the next demand areas, I would remain very cautious.”

Source: Altcoin Sherpa/Twitter

The top crypto asset by market cap is hovering around $18,873 at the time of writing.

Next on the traders list is ETH scaling solution Optimism (OP). Altcoin Sherpa says that while he sees an upside for OP in the near term, he ultimately expects it to settle around the $0.50 area.

“OP: This current area is an HVN [high volume node] on the volume profile so maybe it should bounce but this is still a comfortable short down to $0.50 in my opinion.”

Source: Altcoin Sherpa/Twitter

OP is currently trading at $0.926.

Altcoin Sherpa concludes his analysis by mentioning ApeCoin (APE), the native asset of the Bored Ape Yacht Club non-fungible token (NFT) community. He says that APE is currently at a significant price level and that it “looks scary”.

“APE: $5.85 is a significant level in my opinion, #1d [one day] closes over there in almost two weeks. This would mean mid $6 but it is a strong level. I’m still in my position, but I’ve taken more profits in the $5.90 range. It looks a bit scary so take some extra profit here.”

Source: Altcoin Sherpa/Twitter

APE is valued at $5.62 at the time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/YanaBu

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