The court ruling that XRP is not a security has stirred up the altcoin market. Widely followed cryptocurrency analyst Kaleo has announced that he expects a serious increase in two leading popular altcoins.
Analyst Has an Eye on Binance’s Service Token BNB
The first altcoin on Kaleo’s radar is the service token of Binance, the giant cryptocurrency exchange, known as Binance Coin (BNB). According to Kaleo, BNB trading below $250 signifies a valuable purchasing opportunity.
Looking at the price charts shared by the analyst, it is expected that BNB will revisit the $300 level and slightly surpass its April peak of $340 in the last four months of 2023:
Kaleo believes that Binance’s service token is currently drawing little attention, but this situation will change and investor interest will increase when it begins to rise:
It’s funny, no one is talking about BNB right now, but this will change when it finally rises a bit, and everyone will start talking about it when it goes up. And everyone will talk about how clear an opportunity it offered when looking back, but no one is saying such a thing right now.
At the time of preparing this article, BNB is trading at just over $259, above the analyst’s indicated $250, with an increase of over 6% in the last 24 hours.
Second Altcoin on the Analyst’s Radar: Bitcoin Cash (BCH)
The second altcoin on the analyst’s radar is Bitcoin Cash (BCH). Kaleo, stating that BCH has more upward potential against Bitcoin (BTC), said “After waiting for a few days without opening any positions, you opened a long position again in BCH. I really liked its outlook compared to BTC, with the potential to make one more surge.”
BCH is changing hands at $276.74 with a decrease of 1.07% recorded in the last 24 hours at the time of writing. The popular altcoin is trading at 0.008808 BTC, a decrease of 4.67% against Bitcoin.
