Michaël van de Poppe, a popular cryptocurrency analyst and trader, has revealed that he has Ripple’s digital token, XRP, on his radar, stating that the 6th largest digital currency is gathering momentum for a significant breakout.
In a new video shared with his teeming YouTube subscribers, which was first reported by Daily Hodl, Michaël van de Poppe, formerly known as Crypto Michael, stated that the digital token XRP is gathering momentum for a 46% price surge from its current prices.
Using the Fibonacci extension tool, Michaël van de Poppe said he thinks XRP could hit $1.85 in its next breakout, which is close to its 2021 high of $1.95.
The prominent trader is also bullish on XRP in its Bitcoin pair. He pointed out that Ripple’s digital token is one resistance away from printing a 140% surge from its current price of 0.000025 BTC.
Michaël van de Poppe noted:
“Looking at XRP, we do see that we are having this beautiful [support] flip at $1.06. I’ve also marked the level around $1 as that is a very good entry point. But we can see that the very important, significant level at $1.06 is providing support here. Some consolidation, sideways action and most likely we’re going to have a new breakout to the upside for XRP.”
“You want to take an entry around this area (0.000022 BTC or $1.10). You want to place your stop beneath. And most likely, we’re going to have a break that just pulls the trigger towards the next impulse move towards 0.000038 BTC, worth $1.90. And then you’re actually going to look for higher lows and higher highs.
At this stage, we do know we’re creating higher lows, but you actually want to break this high (0.000038 BTC) and create a new higher high through which targeting a level 0.00006 BTC ($3.00) is pretty likely to be taking place.”