Analyst Details 2023 Price Targets for XRP, Dogecoin, Avalanche and Seven Additional Cryptos
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A popular crypto strategist believes that a number of altcoins including XRP, Dogecoin (DOGE) and Avalanche (AVAX) will trade significantly higher in the next 12 months.
Pseudonymous analyst Altcoin Sherpa tells his 187,700 Twitter followers that he thinks the macro backdrop will likely improve by December 2023, which could set up rallies for many altcoins.
“I think that the overall macro environment will be a little better by the end of 2023. I also think that we have seen a lot of Q4 rallies in 2017, 2020, 2021 and altcoin rallies most Q4s in those years, plus 2018/2019. Alts have had rallies nearly every year in Q4.”
Looking at the top two cryptos by market cap first, Altcoin Sherpa predicts that Bitcoin (BTC) will likely soar to $35,000 around the same time next year, with Ethereum (ETH) climbing to $3,200.
The crypto analyst also sees smart contract protocols Solana (SOL) and Avalanche rising to $35 and $25, respectively. As for Binance Coin, the utility token of crypto exchange Binance, Altcoin Sherpa says BNB will likely rally to $400 next year.
The crypto strategist sees payments solution XRP ascending to $0.60 by December 2023. Meanwhile, leading meme token Dogecoin could witness a decent spike to $0.10 in the next 12 months, according to Altcoin Sherpa.
Other coins on Altcoin Sherpa’s list include decentralized oracle solution Chainlink (LINK), blockchain scaling solution Polygon (MATIC) and interoperable protocol Polkadot (DOT).
The crypto analyst believes that LINK could potentially rally to $14 around the same time next year, with MATIC surging to $1.75 and DOT bouncing to $9
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