Popular Analyst Says XRP To Witness Upward Momentum, Updates Forecast for Cardano and One Other Altcoin
A popular analyst and trader says he remains bullish on XRP despite the overall uncertainty in the crypto markets.
In a new blog post, Michaël van de Poppe says XRP is one of the strongest movers in the markets as of late.
He also says XRP’s chart looks like the sixth-largest crypto asset wants to sustain its bullish momentum.
“The one-day timeframe looks like it wants to continue the upwards momentum as we can see the strength in the bounce, which we can see across markets. In that regard, you’d preferably want to see the area around $0.45 hold for support and if that’s the case, a retest at $0.52 is next on the horizon.
A clearcut breakthrough of $0.52 is giving argumentation for even further upwards momentum, targeting $0.65 and potentially even $1.”
At time of writing, XRP is changing hands for $0.471, down nearly 3% in the past day.
Next up is smart contract platform Cardano (ADA). Van de Poppe says the Ethereum (ETH) competitor is now hovering at a level that’s very favorable for long-term bulls.
“Finally hit the crucial level where everything started in 2021. Decent entry for longs here for investments. Very decent.”
At time of writing, ADA is valued at $0.36, flat on the day.
Looking at decentralized oracle network Chainlink, Van de Poppe says LINK continues to flash signs of strength and believes it is one resistance away from igniting a huge rally.
“Breaking $7.40 opens the party, then we’d be looking at continuation towards $11 on this one.”
At time of writing, LINK is trading at $7.17, also flat on the day.
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