Assets across the board will likely continue to go up into the end of the year. Bitcoin has been coupled with the stock market which is set to peak early next year. It is yet to be seen whether Bitcoin can reach a new all-time high by the time it tops with the stock market. Regardless, in late February to early March, we should start to see more capital rotate into Ethereum, which typically marks the start of an altcoin rally. Crypto has traditionally been a rotating asset class and as money flows out of Bitcoin, it will find a home in larger cap and then ultimately smaller cap altcoins.
XRP is beginning to retest the $1 range, and will continue to consolidate until it is ready for a significant move. Over the past several months, XRP has been putting in higher lows, and should not see a retest of $0.80. Once we see a break over $1.30, our next price target will be at the $2 level. XRP has historically been a laggard in the crypto market, and when it begins to run, it will mark the end of the altcoin rally. But before that occurs, we still await a top in Bitcoin followed by a rally in Ethereum which will usher in the beginning of ‘altseason.’
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