XRP and Polygon (POL) Show Strength in Cryptocurrency Market as Analyst Predicts Massive Breakout

XRP Surges on Trump’s Victory and Gensler’s Resignation

XRP has seen a significant rise in value following Donald Trump’s win and the news of SEC Chairman Gary Gensler stepping down. On the other hand, Bitcoin is facing a downward trend. Similarly, Polygon (POL) has entered a bullish trajectory, though it has yet to witness a full breakout. However, a renowned analyst has now outlined a 60X breakout for the altcoin.

Analyst Predicts POL’s Path to $36

Seasoned analyst Ali Martinez has forecasted a 6,000% surge for POL, projecting its price to increase from $15.27 to $36.17. Martinez attributes this positive outlook to the fact that around 75% of POL holders are currently at a loss, indicating minimal selling pressure and a reluctance to take profits. This situation suggests a bullish trajectory for the altcoin.

Price of POL Poised for 60X Surge

Martinez also cites on-chain metrics like the rise in new active addresses, whale activity, and trading volume as indicators of a growing POL market. Whales have reportedly purchased 140 million POL between November 14 and 18, signaling confidence in the altcoin. A sustained close above $0.7973 could trigger a further rise for POL. With an 80% increase in the last 30 days, the altcoin appears ready to reclaim its previous price levels.

I believe Polygon is consolidating in a multi-year descending triangle and a weekly close above $0.7973 could trigger a rise to $15.27 or $36.17!

Follow us on Twitter, Facebook, Instagram, Telegram, and YouTube to stay updated with the latest news!