A closely followed analyst known for making timely Bitcoin (BTC) and altcoin calls says XRP is one of the strongest assets in the crypto markets.
In a new strategy session, the pseudonymous analyst known in the industry as DonAlt says that he’s ready to scoop up XRP in case the crypto markets witness another sell-off event.
“If I get a breakdown on Bitcoin, the one coin that I want to be buying is XRP.”
According to DonAlt, he’s looking to accumulate XRP around $0.38 or lower but says there’s a “good chance” he won’t get it.
“I feel like, I’m just looking at this chart [and] this wants to go up.”
The popular crypto strategist also says his bullish stance on XRP goes beyond the charts.
“I still think they’re going to win the case so any kind of bottom in crypto I think will moon XRP hard. I know the Bitcoin pair (XRP/BTC) looks really good as well. It’s one of the best-looking charts in crypto right now.”
At time of writing, XRP is changing hands for $0.508, down over 2% on the day.
Looking at decentralized oracle network Chainlink (LINK), DonAlt says the Ethereum (ETH)-based altcoin is on his radar because of its tendency to outperform the crypto markets during a bear winter.
“It’s a really interesting setup above $8. I think if we get this wipeout that I’ve been talking about it’s obviously not going to show this strength right now, but at some point it will. It’s been outperforming for a while now on the Bitcoin pair (LINK/BTC). So it’s an interesting chart for me to follow. It’s not necessarily something that I’m going to rush into buying after [a] wipeout, but it’s one of the ones that I’m looking at closest…
If you think back in 2018, 2019, 2020, we had LINK outperform the entire market. LINK was going up, and I think that’s a good narrative to follow and it’s been outperforming in the last few weeks… I think LINK could have another run.”
At time of writing, LINK is changing hands for $7.46, down nearly 2% on the day.
As for smart contract platform Solana (SOL), DonAlt says he’s also looking to accumulate the Ethereum rival in the event of a marketwide correction.
“I know there’s a bunch of bigger guys interested in Solana. So if they see a bottom forming in crypto as a whole, I think they’re going to jump into something like Solana first. So I want to be buying Solana if we wipeout, and then I’m going to sell that relatively quickly.”
At time of writing, SOL is valued at $32.60, flat on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Liu zishan
