Popular crypto analyst Michaël van de Poppe has made rally predictions for XRP and Litecoin (LTC). The analyst also said that the digital asset markets are tracking an important metric for the next big bull run. Here are the details.
The crypto analyst told his 584,000 Twitter followers that XRP is waiting for a breakout in the Bitcoin pair (XRP/BTC) and is rallying for an upside move.
“This chart is very similar to the previous cycle in 2014 and 2017. It looks like we will have that big run in XRP again. The tighter the chart, the harder the break and everyone rushes to that position.”
As we reported earlier, Van de Poppe said that Litecoin, like XRP, will be bullish after a fairly long downtrend. guesses.
On the other hand, the crypto analyst added that he expects a metric to reverse before the crypto market takes action again. According to him, the US dollar index (DXY) should reverse its course in its nearly 1-year rally.
“I am still waiting for this to reverse, then the crypto party will begin.”
The crypto analyst is also closely watching a pair of low-value altcoins. Van de Poppe thinks Syscoin (SYS) is currently at an attractive support level for the bulls.
“Quite simply, if it holds (support) I would look at a level to buy long (positions) from here.”
Van de Poppe says that a crypto asset also represents the entire altcoin market. According to the analyst, decentralized finance (DeFi) platform Orion Protocol (ORN) offers long-term opportunities for bulls, even if some traders shy away from bearish price action.
“This chart is a representation of the current state of altcoins. They are on the ground and have been in a bear market for a year. It’s time to enter them instead of exiting the market.”
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.