Analyst Spots XRP, QNT, INJ for Potential Breakouts This Week

Analyst Ali Martinez has identified three altcoins that he believes could break out this week: Ripple’s XRP, Quant’s QNT, and Injective’s INJ. His comments came after Bitcoin and most altcoins were rejected from their Monday peaks, leading to a deeper correction.

Martinez highlighted XRP, noting that it appears to have broken above the descending resistance line of a triangle on the four-hour chart. He set a target of $1.62 as long as the token holds $1.50 as support. However, XRP was stopped at $1.53 yesterday and has since dipped to just under $1.50. A decisive close below that level could invalidate the bullish scenario. CryptoQuant’s CW reassured XRP bulls that the positive trend remains intact despite the short-term drop, noting that the price has reclaimed the Point of Control.

Next on Martinez’s list was QNT, which surged by 530% in days following major banking adoption news, peaking at $370 before correcting to $255. The analyst predicted that an hourly close above $262 would confirm the breakout, with targets at $315 and $344. Before the retracement, Martinez was even more bullish, suggesting a surge past $430 could open the door for a major expansion to $2,000.

Lastly, Martinez highlighted INJ, which has seen significant gains since mid-August. The token recently topped $8.50 for the first time in almost a year but has since slipped to $7.50. Martinez noted that as long as INJ remains above the neckline of its cup-and-handle formation at $7.33, it could rocket to $13.40.