An analyst who was early to catch the 2023 crypto bull run believes that the payments altcoin XRP is poised for another round of rallies.

Pseudonymous analyst DonAlt, who has 65,100 subscribers on YouTube, asserts that XRP is one of the strongest coins in the market, alongside Bitcoin (BTC). He also believes that XRP has spent enough time consolidating after reaching a high of $2.90 in December.

“I am currently a believer. When I look at this chart, I see strength in both the Bitcoin pair and the USD pair. Both of them look excellent. It’s pretty much exactly what I wanted to see… Weeks ago, I predicted a slight pullback and some time spent consolidating, and it seems like it’s ready for a second leg up. So far, I don’t see anything that would go against that.”

Taking a broader perspective, DonAlt thinks that XRP may be ready to ignite steep surges and continue its bullish ascent that began in November.

“Every time I start doubting whether we will experience a blow-off top in crypto or not, I look at the XRP chart and all my doubts disappear… XRP seems like it’s gearing up for round two.”

The trader also shares a chart indicating that the resistance at $2.73 is the only remaining obstacle for XRP on the daily time frame.

“Look at the XRP chart like this and you’re still a non-believer?”

As of the time of writing, XRP is trading at $2.50.