- Crypto strategists predicted that Chainlink and XRP will outperform Bitcoin and altcoins like Ethereum in the bear market.
- Analysts reveal plans to scoop up XRP and Chainlink in the event of another downturn in cryptocurrencies.
- LINK price nosedived below $7.45 after strong bearish divergence, analysts remain hopeful of a recovery in the altcoin.
DonAlt, a crypto analyst known for timely and accurate Bitcoin and altcoin price predictions believes Chainlink (LINK) and XRP could beat the ongoing bear market. The analyst revealed plans to accumulate the altcoin during a sell-off event.
Also read: ApeCoin Price: APE price ready for a massive 25% rally or smoke show?
Analysts bet on XRP and Chainlink (LINK) to outperform BTC, ETH
DonAlt, a leading technical analyst known for the timing and accuracy of his crypto price prediction recently told his followers that XRP is one of the strongest assets in the ecosystem. In a new strategy session, the analyst unveiled plans to accumulate XRP in the event of another mass sell-off.
DonAlt was quoted as saying:
If I get a breakdown on Bitcoin, the one coin that I want to be buying is XRP.
The analyst's target is to accumulate XRP if it falls to $0.38 or lower, yet he admits there is a low likelihood of such a decline happening. DonAlt is bullish on XRP and argues,
I still think they’re going to win the case so any kind of bottom in crypto I think will moon XRP hard. I know the Bitcoin pair (XRP/BTC) looks really good as well. It’s one of the best-looking charts in crypto right now.
XRP Perpetual futures from DonAlt’s YouTube strategy session
The Ethereum-based decentralized oracle platform Chainlink (LINK) is the second-best altcoin according to DonAlt. The analyst noted that LINK has typically outperformed cryptocurrencies during a bear market. For three consecutive years since 2018, LINK outperformed the entire crypto market and emerged as a good narrative to follow. DonAlt expects another good run in LINK price before the end of the ongoing cycle.
DonAlt’s target for LINK price is above $8. In the event of a wipeout, the analyst is keen on accumulating Chainlink tokens, predicting a recovery in the LINK/BTC pair.
Analysts remain hopeful of Chainlink (LINK) price recovery
TheEuroSniper, a crypto analyst and trader believes Chainlink price could hit the target of $9.62. The analyst has set a target of a 27.9% rally in the altcoin and believes LINK could still hit its target despite the crypto bear market.
Chainlink Perpetual futures
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ripple on-chain metrics show bullish signs amidst legal struggle with SEC, XRP eyes recovery
Ripple made a comeback above $0.48 on Tuesday and hovers above that level in Wednesday’s European session. Ripple on-chain metrics such as transaction volume and Network Realized Profit/Loss have turned bullish, supporting a recovery in the altcoin.
Bitcoin price falls amidst German government transfers, miners activity
Bitcoin (BTC) extends correction on Wednesday and hovers around $61,000 after finding resistance near the $64,000 level on Monday. Recent on-chain data indicates heightened selling activity from Bitcoin miners early in the week.
Crypto Today: Bitcoin erases gains from end of June, Ethereum declines while Ripple holds
Bitcoin wipes out gains from the last week of June and falls below $60,000 on Wednesday. Ethereum and top altcoins ranked by market capitalization erased gains as the inflation outlook worsened. Ripple holds on to recent gains and hovers above $0.48 on Wednesday.
Three reasons why altcoins could shake off losses this week
On-chain data from Santiment shows that altcoins are currently in the opportunity zone, or generating buy signals. The top three altcoins in the buy zone are Basic Attention Token (BAT), Chromia (CHR), and Highstreet (HIGH), per Santiment.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.