Crypto trader Ali Martinez is warning about potential price drops for several major cryptocurrencies. Let’s break down his predictions.
XRP: A Potential Price Plunge?
Martinez, who boasts over 133,000 followers on X (formerly Twitter), says XRP is in a precarious position. If it dips below $2, a significant drop to $1.60 is possible due to a lack of support in that price range. He points to an “air gap” between $2 and $1.60 shown on Glassnode data, suggesting a weak price floor. At the time of writing, XRP is trading at $2.56.
Solana: Facing a Major Hurdle
Martinez also flags Solana (SOL) as facing a crucial test. He believes the $135 mark is a major resistance level. The analyst notes that the net unrealized profit/loss (NUPL) metric for SOL is below zero, indicating that many investors are currently losing money. This could lead to further price drops. Currently, SOL is trading at $132, down significantly from its all-time high of $293.
Dogecoin: A Whale’s Tale
On a more positive note, Martinez highlights significant recent buying activity for Dogecoin (DOGE). He reports that over 110 million DOGE were purchased in a single week, suggesting large investors are betting on a price increase. DOGE is currently trading at $0.173.
Disclaimer: This information is for educational purposes only and is not financial advice. Always conduct your own research before making any investment decisions.
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