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. “

Source: Kaleo/Twitter

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.”

Source: Kaleo/Twitter

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.”

sauce: Kaleo/Twitter

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.

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