Amid an ongoing market correction that has persisted for four weeks, prominent cryptocurrency strategist Michaël van de Poppe has outlined potential entry positions for XRP investors.
The digital asset’s recent price movement has attracted significant attention from market analysts who view the current consolidation phase as a necessary component of sustainable market growth.
Van de Poppe presented detailed insights into XRP’s price dynamics, revealing two critical support levels that could serve as advantageous entry points for investors seeking to establish or expand their positions in the digital asset.
Request 03 – $XRP
Remains the same.
It's consolidating after an explosive run earlier.
I expect the higher timeframe support zones to be tested again and those are the most optimal ones to get into Ripple. pic.twitter.com/cy47ZEKIRV
— Michaël van de Poppe (@CryptoMichNL) December 30, 2024
Entry Points for Massive Gains
The first significant support level identified by Van de Poppe sits at approximately $1.8185. This price point has demonstrated substantial historical significance, with XRP experiencing two notable rebounds from this region in December alone.
The initial bounce occurred on December 10, when the asset recovered from $1.9010, followed by a similar pattern on December 20, when it ascended from $1.9584.
Van de Poppe also identified a secondary support zone at $1.5764. This price level previously functioned as a resistance area before XRP successfully converted it into a support level during its November rally. The analyst expressed confidence that either of these support levels would likely maintain their strength during future market movements.
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The current market position of XRP, trading at $2.095, sits below the 20-day Exponential Moving Average (EMA) of 2.17928. Falling below the 20-day EMA is a bearish signal. The majority of XRP’s short-term moving averages were bearish at press time.
Despite the asset’s recent downturn and bearish signals, market observers remain optimistic. Van de Poppe noted that the digital asset’s price has not changed, as it is still consolidating following the massive run in November.
Looking forward, Van de Poppe anticipates that XRP will undergo a testing phase at these higher timeframe support levels. Following this price discovery, he expects movements toward December’s peak of $2.86 and possibly climb to a new all-time high.
Other Share Bullish Stance On XRP
EGRAG CRYPTO, another prominent crypto analyst, aligns with Van de Poppe’s perspective, suggesting that XRP’s fundamental trajectory remains unchanged despite short-term price fluctuations. According to EGRAG CRYPTO, XRP’s current movements are just noise until it can confirm the breakout that could send it smashing through resistance levels.
Earlier in December, he set a target between $20.5 and $27.5, and many other analysts share the overwhelmingly bullish expectations for the digital asset.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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