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June 9, 2023

XRP and Litecoin (LTC) Breakouts on the Horizon? Here’s How Bitcoin (BTC) Can Help: Crypto Analyst

By Daily Hodl Staff

A widely followed crypto analyst thinks XRP and Litecoin (LTC) can rally if Bitcoin (BTC) can overcome a key price level.

Crypto trader Michaël van de Poppe tells his 657,400 Twitter followers that BTC must rise above $26,800 to have a chance of rallying.

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“The lower timeframe picture for BTC is quite simple.

We need to break through $26,800 in order to have a continuation going here. 

That means, if we break and flip that level, $27,500 is on the cards, but most likely $28,000 & breakouts on XRP and LTC.”

Source: Michaël van de Poppe/Twitter

Bitcoin is worth $26,551 at time of writing. According to Van de Poppe, if BTC can rally to $28,000, XRP and LTC are likely to experience breakouts.

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XRP is worth $0.53 at time of writing. LTC is trading for $89.32.

Diving deeper into BTC’s price movement, the analyst predicts that if BTC can hold its current levels, it will be looking at a green summer ahead.

“Great retest for Bitcoin, and if the weekly closes like this, we’ll be having a close above the 200-Week MA (moving average) and EMA (exponential moving average).

That would mean that we’ll be going up next week and have green numbers coming during Summer.”

Source: Michaël van de Poppe/Twitter

Looking at altcoins as a whole, Van de Poppe believes the altcoin markets are at a pivotal juncture.

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“Total altcoin market capitalization of crypto is also on the edge of an important point here. 

Closing above 200-Week MA and EMA -> good sign.

Closing beneath -> more pain to come.”

Source: Michaël van de Poppe/Twitter
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