Over the past few weeks, XRP, Ethereum (ETH), and other altcoins have shown signs of an extended upside rally. Ethereum (ETH), which is the largest altcoin by market cap, has been maintaining a strong support level at $180. According to some technical analysts, altcoins would experience a pullback in the near term. However, a crypto trader said that the risk to reward ratio to altcoins to surge higher is improving, and it is creating a more favorable environment for XRP and Ethereum price rally. In a tweet, Crypto Michael – a professional trader – said:

“Altcoins have fully retraced back to their 2017 and/or 2016 levels. Does that mean that they can go down some more? Yes, however, the R/R with upside potential is getting extremely better from here. Reminder; sentiment switches after price movements, not before.”