A popular cryptocurrency trader has recently revealed that he believes the price of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), is set to \u201ceasily\u201d surge in the near future, and updated his outlook on altcoins $XRP and $DOGE.<\/p>\n
In a video published to his over 50,000 followers on the Google-owned video-sharing platform YouTube, pseudonymous analyst DonAlt discussed the potential for Ethereum\u2019s price to rise 36% from its current levels, conditional upon the digital currency\u2019s ability to convert a significant resistance level into a supportive one.<\/p>\n
Per his words we could \u201csee an ice bump on ETH\u201d after there was a breakout attempt around the $1,9000 mark that \u201cgot immediately shut down.\u201d To the analyst, if the cryptocurrency manages to creep back up to that level, it could easily squeeze to $2,500.\u201d Ethereum is currently trading at $1,840.<\/p>\n
https:\/\/youtube.com\/watch?v=IDNSqqYgiVE%3Ffeature%3Doembed<\/p>\n
Additionally, DonAlt expressed an interest in $XRP, the sixth-largest cryptocurrency by market capitalization, which he said is hinting at a potential breakout. He suggested that the impending ruling on the U.S. Securities and Exchange Commission\u2019s (SEC) lawsuit against Ripple, a major player in the XRP ecosystem, is fueling the cryptocurrency\u2019s appeal.<\/p>\n
The analyst said XRP has been performing remarkably well, even \u201cstronger than Litecoin,2 which is due for a halving in August of this year. XRP-focused investment products, as CryptoGlobe reported, have seen inflows over the past week, even as digital asset investment products have seen outflows totaling $62 million.<\/p>\n
On the other hand, DonAlt was less enthusiastic about Dogecoin ($DOGE), the meme-inspired cryptocurrency. He stated that Dogecoin\u2019s reputation has taken a hit recently, and its price trajectory seems to be on a consistent decline.<\/p>\n