Two popular crypto analysts are forecasting what’s next for XRP after its big breakout.
After the asset moved from about $0.28 on Friday to its current price of $0.66, Michaël van de Poppe says XRP could go to $1.00 or higher – but recommends traders avoid chasing the pump.
He predicts 95% of investors will ultimately lose money by jumping in at these levels, and says anyone who wants to get in wait until it pulls back to the $0.45 to $0.55 region.
“If you want to scalp trade those rallies, use historical price action to define levels on lower timeframes.
On XRP -> beautiful support/resistance flips grant you opportunities. Through that, you increase your risk/reward while you’re not chasing a pump.”
Meanwhile, a pseudonymous analyst known in the industry as Kaleo says XRP’s chart looks like the early stages of Dogecoin’s giant and short-lived move to the upside.
“It honestly looks nearly identical to the DOGE chart when it was accumulating under .014 after breaking a penny.”
Kaleo predicts that XRP could potentially grow well beyond its current price of $0.66 – but he’s playing it safe with a stop loss in case things turn south.
“100% transparency, my XRP stop loss is at $0.35. 1st target price is $1.00, 2nd is $3.50, moon bag is $6. If we get there, great. If not, I’ll move on…
In case you’ve forgotten how this works, this is what happens when Ripple breaks out of the green accumulation zone [against Bitcoin]. It makes vertical moves. It was never available on Coinbase during any of those, and it’s always had plenty of FUD. I won’t watch from the sidelines.”