Ethereum Approaching Cycle Bottom Against Bitcoin, XRP Rising in Altcoin Season Predictions

ETH/BTC Cycle Bottom Anticipated by Analyst

Altcoin Sherpa, a prominent cryptocurrency analyst, suggests that Ethereum (ETH) is on the verge of reaching a cycle bottom in its Bitcoin pair (ETH/BTC). According to the trader, the ETH/BTC pairing is likely to find stability once Bitcoin completes its current rally.

The trader’s projections indicate that Ethereum could potentially hit a bottom in the coming months, with key levels to watch being the current price or around 0.024 BTC.

XRP Emerges as a Contender

Altcoin Sherpa also turns attention towards XRP, the native token of the XRP Ledger (XRPL), with the coin having surged by approximately 180% this month. The trader highlights XRP’s proximity to its previous high in 2021 and emphasizes its potential as a contender in the impending altcoin season.

Describing XRP’s historical peak at around $3 in 2017, Altcoin Sherpa notes its significance in the current market landscape where factors like flow to other assets, such as Dogecoin, could influence its trajectory. As XRP is currently priced at $1.38, market observers are keenly monitoring its movements.

Analyst’s Conviction Holdings

Altcoin Sherpa discloses some of their top holdings, listing major cryptocurrencies like Bitcoin and Ethereum, as well as altcoins such as Solana (SOL) in their portfolio. The trader also mentions investments in memecoins, artificial intelligence (AI) sector coins, and utility tokens in the spot market.

Citing a focus on on-chain assets like AI-based projects including GOAT and ZEREBRO, among others, Altcoin Sherpa advocates for a concentrated approach in their investment strategy. Additionally, the analyst mentions holdings in coins like KEYCAT, NPC, and BONGO, reflecting a diverse portfolio strategy.