Some Analysts Predict $2.00 for XRP, but Crypto Michael Has A Little Different Opinion
Solomon Odunayo
2 min read
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.”
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.”
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.
