XRP Price May Soar 420%! Analyst Maps Next Target Levels

XRP Price May Soar 420%! Analyst Maps Next Target Levels

At the time of writing, XRP is trading at $0.816, down 2.7% percent in the last 24 hours. The cryptocurrency with the eighth-largest market capitalization is down nearly 40% from its 30-day high of $1.35. 

Michael van de Poppe, a cryptocurrency analyst is looking at what the future holds for XRP in terms of price.

Van de Poppe tells his YouTube fans that he’s keeping an eye on the $0.81 to $0.97 price range. If the open-source digital currency can maintain those levels, it might spark a strong 140 percent rise. 

He predicts that if those levels hold, a rally to $2 can take place. The triggers on the way will be at $0.90, $1.00, and $1.20, then a vertical move is likely. 

The analyst then utilizes a Fibonacci extension tool to show that the next target points for XRP are $2.87 and $4.33. If XRP follows Van de Poppe’s plan, the altcoin may soar by more than 420 percent from the present levels.

Post Crash – Analysis holds good

At Present, the XRP price struggling to clear the $0.850 resistance level. Right now, It is moving lower towards the support level at $0.800. If the altcoin fails to hold above the $0.800 level, the price may decline towards $0.780.

In the comments area of his YouTube video, the analyst mentions that he made those price projections before XRP’s value plummeted over the weekend. He claims, though, that his projections haven’t changed.

Overall, Van de Poppe informs his 521,800 Twitter followers that the gloomy sentiment in the crypto markets isn’t bothering him right now. 

On-Chain Metrics

According to Santiment’s on-chain analytics, XRP is still “suppressed” at its current price and hence has room to expand. Short-term price extremes were produced by recent crypto market volatility, driving the XRP price to the edge of a $0.57 low.

Santiment’s “strong and oversold” on-chain analytics indicates that XRP is displaying indicators of being “undervalued” in contrast to its fundamentals. As of press time, XRP was slightly higher at $0.83. 

Original Source :coinpedia.org

Want to know how to start investing in Cryptocurrencies and Stocks? Click here and get more information about the top investing platform available.

Want to receive the latest stock and cryptocurrency news and investing ideas that can help you make money ?! Subscribe to our newsletter. Enter your email below and hit the subscribe button.

Want to know how to start investing in Cryptocurrencies and Stocks? Click here and get more information about the top investing platform available.

If you want professional consultation regarding stock or cryptocurrency investing leave your information below and experts from our trusted partners will reach out to you

Subscribe

* indicates required