Trader DonAlt, widely recognized for calling XRP’s breakout rally in 2024, has shifted his focus to Ethereum, highlighting the cryptocurrency’s technical structure as exceptional in the current market.
Ethereum retests breakout as institutional flows rise
According to DonAlt, Ethereum’s daily price pattern now represents the “cleanest chart in crypto.” The token recently consolidated above a breakout level near $2,400, maintaining a position that traders regard as technically strong.
On August 30, Ethereum traded in the $2,455 to $2,460 range despite declining 2.7% two days prior. The token has posted an advance of approximately 30% since mid-August, when it was valued near $1,880.
DonAlt began adding to his Ethereum holdings in mid-August at about $1,878. Ethereum subsequently surpassed the $2,000 mark and touched highs above $2,500, with its price now consolidating between support at $2,400 and resistance near $2,816.
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AAPLMaintaining the $2,400 level is seen as critical to validating the breakout. Should Ethereum successfully defend this support, DonAlt identifies $2,816 as the next important resistance, representing a potential gain of roughly 14% from current prices.
Ethereum’s consolidation above $2,400 now provides a clear structure for traders, with technical support and ETF inflows aligning at a pivotal moment for the token’s next move.
| Metric | Value (Aug. 30) | Change from Mid-August |
|---|---|---|
| ETH Price | $2,455–$2,460 | +30% |
| Support Level | $2,400 | Maintained |
| Next Resistance | $2,816 | Target +14% |
Institutional activity has reinforced Ethereum’s price move. The most recent rally coincided with $220.77 million in spot ETF inflows, signaling heightened investor interest and adding to spot-market support.
XRP rally slows but institutional demand remains firm
DonAlt’s reputation grew significantly after pinpointing XRP’s 2024 rally from sub-$1 levels and outlining targets at $1.20, $2.90, and $6.90. XRP reached a local high of about $3.66 in July 2025 before DonAlt stated that his original thesis on the token was largely fulfilled. His latest comments suggest he now views Ethereum as offering a stronger technical signal for broader altcoins.
XRP recently jumped 43.7% in the week ending August 26, outperforming major competitors amid surging Korean volume and increased ETF inflows. Despite a subsequent price pullback to $1.39 from an intraday peak of roughly $1.70, institutional interest has remained robust.
US spot ETFs for XRP attracted $110.49 million in inflows last week, marking their highest tally in 2026. Cumulative inflows reached around $1.66 billion, reflecting resilient investor sentiment despite the easing of short-term price momentum.
In addition, 21Shares’ TOXR XRP ETF product is approaching $150 million in assets, further highlighting institutional engagement in the token.
For market watchers, Ethereum’s ability to maintain support near $2,400 may offer a key signal for altcoins more broadly. If this level holds, traders are likely to focus on the path toward $2,816 and the broader implications for risk appetite across digital assets.
Mini dictionary: 21Shares is an asset management firm specializing in cryptocurrency exchange-traded products (ETPs), which allow investors to gain exposure to digital assets through traditional securities exchanges. TOXR is its exchange-traded fund focused on tracking the performance of XRP.
