Technical analyst CoinsKid talked about new opportunities in the altcoin market. The analyst says that the fight between the bulls and the bears, which has been going on for about 2 years, may end very soon.
Watch out for this altcoin: Big exit may be imminent
Ripple (XRP) on the analyst’s radar is currently awaiting the final decision to come out of the ongoing SEC lawsuit. Meanwhile, the battle between the bulls and bears continues below the $0.50 level. CoinsKid talked about the importance of this level for XRP in their new analysis yesterday. The technical analyst believes that XRP could witness a major breakout to $0.69 at the “minimum”. It also assumes that it can break a descending trendline connecting previous highs in late March and June.
According to his tweet, “I think if we see XRP lift the daily white line, it goes up to 0.69 at a minimum.”
However, the XRP price remained above 37% year-to-date. It is currently trading in the $0.4696 region, where it has lost 2.5% on the day.
Meanwhile, XRP has hit 10 and 20 EMA golden crosses for the first time since 2020. The development, revealed by UK-based crypto analyst CoinsKid, came to light this month. According to CoinsKid, this will be the catalyst for the token to become parabolic.
cryptocoin.com You can take a look at the price predictions of Egrag, a popular XRP bull, which we have quoted in this article.
XRP short-term technical levels
The third most traded altcoin in the second quarter of 2023 has been mostly sideways trading lately. It usually hovers around the 100-day moving average (DMA). The crypto token failed to break the $0.55 resistance several times. It is currently attempting to break the $0.50 resistance and run at this important technical level once again.
However, the bulls will need to break the 200-week moving average before crossing the 100-week moving average at $0.55 and $0.60.
Earlier this week, crypto analyst Michaël van de Poppe also expressed his thoughts on XRP, saying that XRP needs further confirmation before it starts targeting the $0.53 price level. He added that XRP is not showing a clear structure at the moment, but he still believes the odds are in his favour.
Michaël van de Poppe doubles his XRP bets
As Michaël van de Poppe observed in the analysis and chart he shared on his Twitter profile on July 2, XRP has hit a higher level recently but requires further confirmation before it can start targeting $0.53.
According to the analyst, XRP does not show a clear structure. Therefore, it is too early to say definitively whether this is a trend reversal or just a temporary move. But the odds are still in XRP’s favor.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.