Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

What’s Next for XRP? Top Crypto Strategist Michaël van de Poppe Analyzes Rapid Drop in Price

by Daily Hodl Staff
December 24, 2020
in Regulators, Ripple and XRP
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Crypto analyst Michaël van de Poppe is assessing XRP’s price action in the aftermath of the U.S. Securities and Exchange Commission’s actions against the payments company Ripple.

Since the SEC filed its lawsuit alleging Ripple has sold unregistered securities, XRP has dropped dramatically. With the overall crypto market witnessing a 6% correction in the last 24 hours, XRP has crashed much harder, dropping more than 30%.

In a new video, van de Poppe draws potential lines of support as the asset continues to search for a bottom. With XRP at $0.27 at time of publishing, Van de Poppe says it is below two major lines of support, and historically when XRP falls there aren’t many points of resistance on its way down.

“As I’ve been stating that these blocks here at $0.45 was an entry zone, once that’s lost the next one is around $0.30, which is why we get there after such a drop down, there aren’t really levels in between…

The moment [XRP] loses $0.45, the first level you get any point of interest is $0.30 whether or not you get a lawsuit from the SEC.”

Van de Poppe is wary of jumping into XRP, suggesting that with the general altcoin capitulation, there could be some much safer and more advantageous plays for traders.

“Given that we’ve gotten this low in basically one daily candle and given that there is the lawsuit from the SEC… I would definitely not go in for such a risky approach at this point especially given that there are so many altcoins right now at a very interesting level that give way more potential than XRP.”

For those who are considering the asset, van de Poppe outlines what those traders should be looking out for and what he believes are the best and worst case scenarios for XRP. However, the analyst warns his viewers that XRP will likely remain in a limbo zone until the SEC decides Ripple’s fate.

“In the best scenario we get a relief rally towards this [$0.40 range] and are going sideways again… However, if this is going to happen it’s still going to take a significant period until it bottoms out…

There are two outcomes. One, is that the SEC won’t file charges and [Ripple is] just fined which would be a very bullish outcome for crypto in general and security tokens in general for the US. In that case, we probably have a very bullish market for XRP which would be bullish for the overall markets in itself, but that’s going to take a long time.

In the worst outcome, it’s not going to go well with the SEC and the price will go down even more and most likely there’s going to be D listings which means that you are holding a token that you can’t sell somewhere.”

l

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix


Check Latest News Headlines




Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Art Furnace

Submit a Press Release

Crypto Livewire – Press Releases

  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
  • Blockchain Provider Orbs Is Now Accessible Through the AWS Marketplace
    April 8, 2021
  • Taraxa to Integrate a Chainlink Timestamp Oracle for Tracking Informal Transaction Agreements
    April 8, 2021
  • Immutable X Launches Gas-Free Layer-2 Solution Paving the Way to Mainstream NFT Adoption
    April 8, 2021
  • SpiderDAO Announces TestNet Deployment
    April 7, 2021
  • The Crypto Card With Everyday Purchasing Power That Gives You Full Control Over Your Assets
    April 7, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$60,593.00
$60,593.00
3.07%
Ethereum
$2,163.48
$2,163.48
3.46%
Binance Coin
$485.34
$485.34
11.74%
XRP
$1.16
$1.16
12.92%
Polkadot
$42.02
$42.02
1.2%
Cardano
$1.23
$1.23
1.08%

Spotlight

  • Pro-Bitcoin Trade Group Signals Fresh Push for Mainstream Crypto
    April 6, 2021
  • Red-Hot Crypto Asset That Erupted 1,250% This Year Teams Up With Cardano
    April 4, 2021
  • Cardano Price Will Soar Until October, According to Ben Armstrong – Here’s How High It Could Go
    April 8, 2021
  • Banking Giant JP Morgan Lowers Bitcoin’s Long-Term Bullish Target – Here’s Why
    April 5, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl