XRP and Three Other Altcoins Could Witness Another Sell-Off Event, According to Crypto Strategist

A closely followed crypto analyst is warning that payments token XRP and three other altcoins may suddenly collapse.

In a new post, crypto trader Ali Martinez tells his 134,500 followers on the social media platform X that XRP may be forming a head-and-shoulders (HS) pattern on the daily chart.

An HS structure is a bearish pattern indicating that an asset has lost momentum to sustain its uptrend after failing to print new highs.

He also says that the Ethereum ( ETH ) hard fork Ethereum Classic ( ETC ), decentralized finance (DeFi) protocol Yearn.Finance ( YFI ) and a Bitcoin ( BTC ) hard fork Bitcoin Cash ( BCH ) are on the verge of losing key support levels.

“What do XRP, ETC, YFI, and BCH have in common?”

Source: Ali Martinez/X

XRP is trading for $2.08 at time of writing, down 3.3% in the last 24 hours.

Meanwhile, ETC is trading for $16.69 at time of writing, up 1% on the day, and YFI is trading for $4,778 at time of writing, down 1.1% in the last 24 hours.

BCH is trading for $302 at time of writing, up 1.1% on the day.

Next up, he says that the Tom DeMark (TD) Sequential indicator is flashing a bullish signal on the weekly charts for layer-1 protocol Algorand ( ALGO ) and global payments network Stellar ( XLM ).

TD Sequential is an indicator used in technical analysis to determine potential trend reversal points.

“The TD Sequential just presented a buy signal on the weekly chart for Algorand. This could be the spark for a fresh uptrend!”

Source: Ali Martinez/X

ALGO is trading for $0.17 at time of writing, down 1.5% in the last 24 hours.

He suggests Stellar may increase more than 46% its current value.

“The TD Sequential indicator just flashed a buy signal on the Stellar weekly chart, which could lead to a rebound to $0.34 or even $0.38!”

Source: Ali Martinez/X

XLM is trading for $0.26 at time of writing, down 2% on the day.

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