Analysts Predict These Altcoin Prices Will Rise High: XRP, Polygon, Ethena, and ALGO

Bittime - Ali Martinez, A crypto analyst predicts that some altcoins like XRP, Polygon, Ethena, and ALGO. Check out the analysis.

XRP Price Prediction: Bull Penant Pattern

In a recent strategy session, crypto trader Ali Martinez revealed to his 108,000 followers on social media platform XRP is forming a bull pennant pattern. The bull pennant pattern is a continuation pattern in which a period of consolidation is often followed by a breakout.

XRP has one of the most bullish setups in crypto right now after the recent retest of the breakout zone!

Martinez also mentioned that XRP could potentially surge to $10, which is an increase of more than 217% from its current value, as crypto whales buy large amounts of the token.

Source: AliMartinez/X

XRP is in the midst of a massive bullish breakout... On-chain data reveals that whales have been accumulating XRP massively. In the past week alone, they have purchased more than 1.10 billion XRP. This buying pressure builds momentum. XRP has broken out of the bull pennant, a classic bullish pattern. If buying pressure continues, it could push XRP to $10.

Currently, XRP is trading at $3.15, up 18.2% in the last 24 hours.

Read too Check the Latest XRP (XRP) IDR Price

Polygon (MATIC) Price Prediction: Consolidation Awaits?

Furthermore, the analyst said that Ethereum (ETH) layer-2 scaling solution, Polygon (MATIC), is preparing for a big move in either direction while consolidating within a descending triangle.

Polygon is on the verge of a 40% move! All we need to do is wait for a sustained close outside the $0.47 to $0.41 range to determine the direction of the breakout.

Source: AliMartinez/X

MATIC is trading at $0.48 currently, up 7.1% in the last 24 hours.

Read too What is Polygonscan? Features and Guide on How to Use Them

Ethena (ENA) Price Prediction: New Support Level

Then, he suggested that Athena (ENA), a synthetic dollar protocol built on Ethereum, may have avoided a severe correction after surging to reclaim a key support level in a trading range with an upper limit of $1.03 and a lower limit of $0.85.

Source: AliMartinez/X

Ethena seems to have exited the parallel channel! Failure to reclaim $0.86 as support could trigger a price correction towards $0.69 or $0.57.

Read too What Makes Ethena ($ENA) Popular in the Crypto Market? Listen to this explanation

Ethena is trading at $0.94 currently, up 14.1% in the last 24 hours.

Read too How to Buy Ethena (ENA)

Algorand (ALGO) Price Prediction Bearish and Bullish Potential

Lastly, he suggested that layer-1 protocols Algorand (SOMETHING) is now in a bullish trend after breaking out from the upper trendline of the symmetrical triangle on the four-hour chart.

Symmetrical triangle patterns can be bullish or bearish – bullish if prices break out above the upper trendline and bearish if prices fall below the lower trendline.

Source: AliMartinez/X

ALGO poised for 60% breakout potential! A decisive close outside the $0.39-$0.32 range will determine the direction of the trend.

Read too Algorand (ALGO) Price Prediction in 2025

ALGO is trading at $0.44 currently, up 20.3% in the last 24 hours.

Read too How to Buy Algorand (ALGO)

FAQ about Altcoin Price Predictions: XRP, Polygon, Ethena, and ALGO

What is the bull pennant pattern on XRP? 

The bull pennant pattern is a continuation pattern in which a period of consolidation is often followed by a breakout. Analysts predict that XRP is forming this pattern, which could cause a significant price spike.

What is the predicted price movement for Polygon (MATIC)?

Polygon (MATIC) is predicted to be on the verge of a big move, around 40%, depending on whether the price can close outside the $0.47 to $0.41 range.

What happened to Ethena (ENA) and its support levels? 

Ethena (ENA) appears to have broken out of a parallel channel and managed to reclaim a key support level. However, if it fails to maintain $0.86 as support, the price could correct towards $0.69 or $0.57.

What are the potential price movements for Algorand (ALGO)? 

Algorand (ALGO) shows 60% breakout potential after breaking out of the symmetrical triangle's upper trendline. The trend direction will be determined by price closing outside the $0.39-$0.32 range.

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Reference

Daily Hodl Staff, Analyst Says Top-10 Altcoin Has a Massively Bullish Setup, Maps Path Forward for Polygon, Ethena and Algorand, Accessed 17 January 2025

Author: IN