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Cryptocurrency News Articles
XRP, BTC, SOL: Pseudonymous Analyst DonAlt Shares His Market Outlook for the Weekend
Feb 03, 2025 at 05:00 am
A crypto strategist known for making timely Bitcoin (BTC) and altcoin calls believes XRP is in a precarious spot as the coin struggles to stay above a key price level.
A crypto strategist is warning traders that XRP might be headed for more downside price action as the altcoin struggles to stay above a key support level.
DonAlt, a pseudonymous analyst, tells his 640,100 followers on the social media platform X that XRP has lost its immediate support at $2.95 following Saturday’s market-wide sell-off.
According to the analyst, XRP needs to recover the critical area otherwise the altcoin will see more downside price action.
“At support right now. Would be nice if it bounced this weekend otherwise we might be in for some short-term pain.”
DonAlt’s chart suggests that XRP might fall to $2.72 if it fails to reclaim $2.95 as support.
At time of writing, XRP is trading down over 4% with a price of $2.93.
DonAlt also has his eye on Bitcoin, which appears to be holding strong despite President Donald Trump’s threats to impose hefty tariffs on foreign nations exporting their products to the US
According to the analyst, tariffs “are a pretty big deal” as they bring uncertainty into an already jittery crypto market.
“BTC moves down 1% and everything else in the market tanks. BTC itself still looks fine but it’s obviously not great that we’re back to this support AGAIN.
Considering the economical nukes Trump is throwing around, I’m surprised BTC hasn’t tanked more.”
DonAlt's chart suggests that BTC will drop down to its support at $99,000 as it continues to respect resistance at $106,222.
Currently, BTC is priced at $101,342.
Finally, DonAlt is keeping a close watch on layer-1 protocol Solana (SOL), which he says appears to be gearing up for a sustained rally to new record highs despite struggling to shatter resistance at $250.
“SOL:
Weaker and weaker rejections off of prior all-time high ($250)
Not a bad chart…
Starts looking quite good the moment it starts closing new highs and those become more and more likely the more often it tests $250.”
DonAlt's chart indicates that the next support level for SOL is at $190.
At time of writing, SOL is trading at $217.
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