Trader Flips Bullish on XRP and One Additional Altcoin, Says Economic Data This Week To Spark Crypto Market Shift

Popular crypto traders say XRP and another mid-cap altcoin are currently performing the most bullish moves in the market.

Kaleo, a pseudonymous trader, tells his 535,000 Twitter followers that XRP and smart contract platform Tron (TRX) currently have the most promising charts.

It is now 2022 and TRX and XRP are two of the best looking charts in cryptocurrency.

Looking at Tron vs Bitcoin (TRX/BTC), Kaleo says the pair looks poised for another breakout after successfully breaking through the diagonal resistance line.

The current relative strength of TRX/BTC is insane.

Expect at least a leg up from this pennant. “

As of this writing, TRX is trading at $0.06, up 72% from all-time highs, while XRP is up 16% for the week at $0.52.

Looking at bitcoin, Kaleo said the flagship cryptocurrency appears to have a wider range, perhaps dropping to $19,000 before bouncing back to $20,000.

Lackluster Monday Open BTC [this scenario] Much better this morning.”

Analysts closely followed say markets could remain calm in the first half of this week before seeing a big shift in volatility on Thursday when consumer price index (CPI) data is released. says that there is The consumer price index is expected to hit 8.1%, but significantly above or below forecasts has historically had the potential to move markets.

The CPI will be released this Thursday. While that does not guarantee a lack of volatility in the interim (the FOMC minutes will be released this Wednesday, knowing that other unforeseen turmoil may follow. ), the market momentum over the past year shows a fairly reliable pivot each month.

Kaleo points out that the November 2021 CPI reading is a 30-year high, also coinciding with Bitcoin’s all-time high and the beginning of a nearly year-long downtrend.

At the time of writing, BTC is trading at $19,303 and has been trading almost flat for almost a month.

Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Generated image: DALLE-2