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Currently in the sights of American justice, the virtual currency Ripple or XRP could soon experience a sharp increase in its value. Star crypto trader Michaël van de Poppe delivers his rather enthusiastic analyzes for Investing.com. Here are the main points of his forecasts.
Trouble with the law and fluctuation for Ripple
Ripple has been experiencing ups and downs for a few months now. Appreciated by investors, the digital currency has been on an upward trend since the start of the Coronavirus crisis. Then there was the lawsuit filed by the Securities and Exchange Commission. In December 2020, the US cryptocurrency authority considered that XRP tokens were unregistered securities. This caused a spectacular depreciation. The price of XRP had fallen to 0.17 US dollars at the heart of the legal turmoil.
Over the course of 2021, Ripple has rallied. Its value had stabilized compared to that of Bitcoin and Ethereum, the two benchmarks for Internet currencies. XRP gradually recovered to reach US$1.88 in April. Then, it’s the fall once again. The Ripple and tumbled again to stop at 0.51 US dollars. Since the start of the school year, the price has risen to pass the $1.30 mark.
https://www.youtube.com/watch?v=jC13qaJhKXs
A boost of over 37% is expected
Van de Poppe acknowledges that uncertainty remains regarding the future of XRP. On the other hand, the cyber trader estimates that Ripple should gain momentum for the fourth quarter of 2021. An increase of 37% should be recorded until the end of the year. This would be possible in the short term based on current trends. The most followed trader on the Web even thinks that XRP has the potential to achieve 3-digit growth.
On YouTube, the trader draws attention to the $1.06 flip. Ripple marks a good entry point with 1 dollar. The additional 6 cents evokes momentum, he continues. The expert believes that a consolidation or a flat calm should precede a significant rise in XRP. The specialist has already predicted fluctuations for other Internet currencies. In September 2021, he recommended 5 cryptocurrencies to buy. These are ATOM, LINK, MINA, HARMONY and XTZ.
Caution is advised after a peak
Van de Poppe’s predictions are based on mathematical sciences. It uses Fibonacci extensions in particular. At one point, the man announced a value around 1.85 US dollars. On the fateful date, the peak of XRP actually peaked at 1.88 US dollars. He continues that it is best to follow the XRP-Bitcoin report closely. The ratio should make a breakthrough before seeing an increase of 140%. At the time of his prediction, XRP was at 0.000025 BTC or 1.25 US dollars.
The trader indicated that Ripple tokens should be purchased when its value is equivalent to 0.000022 BTC or 1.10 US dollars. Then, you will have to stop doing it if the curve continues to rise. Indeed, a breakout will provide the signal for an impulsive move which should peak at 0.000038 BTC, i.e. $1.90. When this happens, it’s best to stay ready to sell.
Do not trust the investment advisor
This article is not investment advice. This is also not an incentive to buy or sell XRP tokens. It is more of a decryption of the behavior of one virtual currency among 7000 others. XRP fluctuations are now predictable for Van de Poppe. The latter still warns that if XRP/BTC rises above 0.000 38 BTC he is right. It is more the Dow theory which is verified. This would be another interesting topic to discuss.
