Top Traders Analyze State of XRP After Crypto Asset’s Big Breakout

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.”

Michaël van de Poppe

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.”

Source: Kaleo/Twitter

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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.

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