Pseudonymous analyst Pentoshi tells his 706,900 followers on the social media platform X that XRP looks bullish after taking out a key resistance level at $0.548.
A breakout above $0.548 should lead towards $0.62-$0.63.”
At time of writing, XRP is trading for $0.59, up about 3% in the last 24 hours.
The analyst is also updating his forecast on the layer-1 protocol Solana (SOL). According to Pentoshi, the bulls are already celebrating SOL’s big rallies as of late which tells him that the crypto asset may be close to witnessing a pullback.
“The timeline is getting a little loud on this one. Probably local top soonish, in the purple box.”
Looking at the trader’s chart, he seems to predict that SOL will likely meet resistance at $38.70. At time of writing, SOL is worth $38.59.
Another altcoin on the analyst’s radar is the governance token of the Ethereum (ETH)-based decentralized finance lending protocol Aave (AAVE). According to Pentoshi, AAVE will see a big breakout rally if it manages to breach resistance at $90.
“This one likely consolidates a bit more. A break above $90 likely brings $112-$115. For now, it’s under resistance that opens that up.”
At time of writing, AAVE is trading at $81.81.
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