Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano

Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano

Daily HodlDaily Hodl2025/04/29 16:00
By:by Henry Kanapi

A closely followed crypto analyst says XRP ( XRP ) looks poised to kick off a new uptrend after the payments altcoin broke out of a bullish reversal pattern.

Analyst Ali Martinez tells his 136,500 followers on the social media platform X that XRP can surge as high as 30% from current levels after breaking out of an inverse head-and-shoulders pattern.

The structure is typically considered bullish as it suggests that buyers are ready to step in without waiting for the asset’s price to revisit recent lows.

“XRP looks to be breaking out of an inverse head and shoulders pattern, with a potential upside target between $2.70 and $2.90.”

Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano image 0 Source: Ali Martinez/X

At time of writing, XRP is worth $2.23.

Looking at the top memecoin Dogecoin, Martinez says that DOGE needs to recover a key price level to gather momentum and trigger a potential rally toward its record high.

“If Dogecoin DOGE can secure a monthly close above $0.20, it could pave the way for a rally toward its all-time high of $0.74. Such a breakout would signal strong bullish momentum and potentially attract increased investor interest.”

Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano image 1 Source: Ali Martinez/X

At time of writing, DOGE is trading for $0.173.

Turning to the layer-1 protocol Solana, Martinez believes that SOL is forming a large bullish continuation pattern that could send the altcoin to an astronomically high price target above $3,500.

“Zooming out, Solana SOL appears to form a textbook-perfect cup and handle pattern!” 

Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano image 2 Source: Ali Martinez/X

At time of writing, SOL is trading at $145.

As for the fellow layer-1 protocol Cardano ( ADA ), the trader says the altcoin needs to take out the diagonal resistance of a descending channel to spark new rallies.

A descending channel suggests that an asset is in a downtrend as its price prints lower highs and lower lows.

“Cardano ADA is approaching a major test at $0.74. A breakout above this level could pave the way for a move toward $0.88.”

Trader Sees XRP Breaking Out of Bullish Reversal Pattern, Updates Outlook on Dogecoin, Solana and Cardano image 3 Source: Ali Martinez/X

At time of writing, ADA is worth $0.694.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Economist Predicts Cryptocurrency Market to Skyrocket

In Brief Henrik Zeberg predicts a significant increase in cryptocurrency market capitalization. Technical indicators suggest a strong market trend similar to past surges. Investors should remain cautious of volatility and potential market corrections.

Cointurk2025/07/16 23:25
Economist Predicts Cryptocurrency Market to Skyrocket