Popular crypto analyst traces XRP’s next move after its big weekend.
Michaël van de Poppe tell its 85,000 Twitter followers that XRP has a long way to go before it can approach $ 2.00, which some analysts believe could happen during the next extended bull cycle.
Before traders expect such massive moves for the fourth largest cryptocurrency, Van de Poppe says XRP must first prove that it can turn resistance at $ 0.30 into support.
He notes that the rise in XRP to its current price of $ 0.43 marks the first higher peak for digital assets since the bear market that began in early 2018.
“What you want to see and what you often see with XRP is sharp acceleration and correction, rapid acceleration, correction. That’s why I’m getting a little cautious about XRP moves at this point. You usually want to see that it takes over the previous medium …
We broke through and now we want to see this support-resistance flip [at $0.30] happen.”
If XRP is able to consolidate a new level of support, Van de Poppe says he believes investors should be looking for a rally to $ 0.55 early next year.
“If we reverse that we can make another lower higher and we are going to aim for a new high in the next quarter and I expect the next happy altcoins season to be between January and March or April.
This next bull run will likely take XRP to the next resistance area at $ 0.55 or $ 0.65. “
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