Analyst details 2023 price targets for XRP, Dogecoin, Avalanche and seven additional crypto assets
A popular crypto strategist believes that several altcoins, including XRP, Dogecoin (DOGE), and Avalanche (AVAX), will trade significantly higher in the next 12 months.
Pseudonymous Altcoin Analyst Sherpa He says his 187,700 Twitter followers that he believes the macro context will likely improve by December 2023, which could lead to rallies for many altcoins.
“I think the overall macro environment will be a bit better by the end of 2023. I also think we’ve seen a lot of Q4 rallies in 2017, 2020, 2021 and altcoin rallies in most Q4s in those years, plus 2018. /2019. . Alts have had rallies almost every year in the fourth quarter.”
Looking first at the top two cryptos by market cap, Altcoin Sherpa predicts that Bitcoin (BTC) will likely soar to $35,000 around the same time next year, with Ethereum (ETH) rising to $3,200.
The cryptanalyst also sees the Solana (SOL) and Avalanche smart contract protocols rising to $35 and $25, respectively. As for Binance Coin, the utility token of crypto exchange Binance, Altcoin Sherpa says that BNB will likely go up to $400 next year.
The crypto strategist sees the XRP payments solution rising to $0.60 by December 2023. Meanwhile, the leading meme token Dogecoin could see a decent rise to $0.10 in the next 12 months, according to Altcoin Sherpa.
Other coins on the Altcoin Sherpa list include the Chainlink (LINK) decentralized Oracle solution, the Polygon (MATIC) blockchain scaling solution, and the Polkadot (DOT) interoperable protocol.
The cryptanalyst believes that LINK could potentially rally to $14 around the same time next year, with MATIC rising to $1.75 and DOT rebounding to $9.
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