thecryptobasic.com
The crypto market is gearing up for the second phase of the ongoing bull market, with analysts expecting altcoins like XRP and Solana to capitalize on the Bitcoin lead.
Renowned market commentator Erwin is one such analyst. In his latest report, he laid out ambitious targets for several crypto assets, projecting massive percentage increases for some of the market’s biggest names.
Among the standouts are Solana and XRP. Both assets, according to Erwin, could experience massive gains if Bitcoin climbs to $120,000—an 88% rise from its current price. However, their paths toward these targets have been different in the ongoing bull run.
Solana Positioned for a 541% Surge
Solana (SOL), currently trading for $148 at the reporting time, has already shown its resilience and potential during the first phase of the bull run, which began in late 2023.
The altcoin skyrocketed to a two-year high of $210.18 in March 2024, surpassing $200. This marked a staggering 779% increase from its Q4 2023 price of around $23.88. Although Solana has since corrected some of these gains, its current price still represents a 519% increase since Q4 2023.
Erwin believes that Solana could rally even further in the next phase, predicting that it could soar by an additional 541% to hit a new all-time high (ATH) of $950. This would surpass its previous ATH of $259, which was set during the November 2021 bull run.
XRP Poised for an 825% Rally After Slow Start
In contrast to Solana, XRP has had a more challenging ride during the first phase of the current bull market. While many assets saw explosive growth from Q4 2023 through Q1 2024, XRP’s performance remained relatively muted.
The digital asset, which is embroiled in a high-profile legal battle with the U.S. Securities and Exchange Commission (SEC), only reached a peak of $0.74 during this period—representing a modest 42% increase from its opening price in Q4 2023.
Several market analysts believe XRP’s inability to fully capitalize on the first phase of the bull run stemmed from the uncertainty surrounding the SEC’s legal case.
However, with the market preparing for a second wave of bullish sentiment, XRP could finally break through the psychological barrier of $1, a threshold it hasn’t crossed in three years.
Erwin is even more optimistic, projecting that XRP could surge by 825% from its current price of $0.54 to reach a new ATH of $5 during the upcoming rally. This would mark a significant reversal of fortunes for the asset, which recently dipped to $0.52 following the SEC’s appeal in the Ripple case.
Other Altcoin Predictions
Beyond Solana and XRP, Erwin believes Ethereum (ETH) could rise by 303% to $10,000, and Binance Coin (BNB), could increase by 195% to $1,700. Erwin’s predictions also include other emerging assets like TAO, predicted to hit $2,100, and Chainlink (LINK), which could climb to $150.