Monday, March 8, 2021

Some Analysts Predict $2.00 for XRP, but Crypto Michael Has A Little Different Opinion

XRP, the third-largest cryptocurrency by market capitalization, has been experiencing a positive price trend over the past week, which gives its faithful traders and investors the confidence to challenge the pessimists of Ripple’s digital token.

Since the huge uptrend has been noticed, there have been favorable price predictions related to the trend of XRP in the market. Some analysts believe that the current trend indicates that the cryptocurrency is set for $2 price level attainment.

However, a popular crypto analyst, Michaël van de Poppe, who is well-known as Crypto Michaël on Twitter has taken time to trace XRP’s next move after its big weekend breakout but came out with a little different opinion.

Read Also: Analyst: XRP Price Has Bottomed; Would Outperform Bitcoin (BTC) In 2021

As shared by Michaël van de Poppe with his teeming followers on Twitter, XRP still has a long way ahead before it can close to $2.

Before investors and traders should expect such a massive move for XRP, the analyst stated that it has to first prove it can turn resistance at the $0.3 mark into support.

Michaël van de Poppe further noted that the rise of XRP to its current price mark is the digital token’s first higher high since the bear market that started back in 2018.

Michaël van de Poppe noted:

“What you want to see and what you often see with XRP is a sharp run-up and correction, sharp run-up, correction. That’s why I’m getting a little bit cautious on the moves of XRP at this point. You generally want to see that it regains the previous support…

“We broke through and now we want to see this support-resistance flip [at $0.30] occur.”

Some Analysts Predict $2 for XRP, but Crypto Michael Has A Little Different Opinion

Read Also: XRP Wallet XUMM Releases ‘Last Beta’ with Improvements, New Features, and Fixes

He added that if XRP manages to cement a new level of support, investors and traders should expect a rally to $0.55 early next year:

“If we flip that, we can make another higher low and we are going to target a new higher high in the next quarter and I’m expecting the next happy altcoin season to occur between January and March or April.

“That next upwards run will probably take XRP towards the next resistance zone to $0.55 or $0.65.”

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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