Famous cryptocurrency analyst Ali Martinez talked about Ripple (XRP) in his latest analysis shared with his followers.
The analyst said that the model behind the XRP price movement since June 2022 is a rising parallel channel and shared his predictions about the price levels that the XRP price may reach if this model continues.
According to the analyst, if the rising parallel channel pattern continues, the XRP price may move towards the middle or upper limit of this channel and climb from $0.80 on the middle line to $1.10 on the upper limit.
XRP price is trading at $0.57 at the time of writing this article.
Commenting on Bitcoin, the analyst said that a lot of BTC was purchased between $ 42,560 and $ 43,245, these BTCs were not sold yet, and therefore the region in question formed a strong support line.
According to the analyst, if the Bitcoin price continues to stay above these levels, there is no resistance level with much strength on the way up. However, if the range between $42,560 and $43,245 cannot be held, the analyst expects a decline between $26,770 and $30,220, which is the next critical zone.
*This is not investment advice.
