A crypto strategist known for making timely Bitcoin (BTC) and altcoin calls believes XRP will soon print new all-time highs if one key condition is met.
Pseudonymous analyst DonAlt tells his 646,600 followers on the social media platform X that XRP may soar past $3.40 if the altcoin can close the weekly chart in the green – above $2.59.
“Close this weekly green and I’ll expect new ATHs (all-time highs) in no time. Red and I’d expect some more ranging in the indicated range. I like ATHs better than ranging so pump it into the weekend please.”
XRP is trading for $2.36 at time of writing, up 1.5% in the last 24 hours.
Next up, the analyst says that the BTC/gold ratio may increase as the precious metal surges, suggesting investors may use Bitcoin as “digital gold,” a store of value asset. The BTC/gold ratio, currently at 33, is the value of Bitcoin relative to the price of gold.
“Hard to be bearish BTC when gold is going up. Gold is stupid, BTC is less stupid. Just on a relative basis, the BTC/gold ratio should be much higher. Whether that be by gold dumping or BTC pumping.”
He also says that Bitcoin is holding key levels of support despite souring market sentiment.
“Could look much worse for the amount of negativity we have here on [social media platform X].”
Lastly, he says Bitcoin will likely hit new all-time highs if it can flip $101,303 into support on the daily chart.
Bitcoin is trading for $95,977 at time of writing, flat on the day.
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Generated Image: Midjourney
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