Michaël van de Poppe, a popular analyst and trader, who founded Eight Global, has recently showcased his bullishness on Ripple’s digital token XRP despite the uncertainty that currently surrounds the crypto market.
In a new blog post, Michaël describes XRP, the 6th largest cryptocurrency by market cap, as one of the strongest movers in the market lately.
According to the top analyst, XRP seems ready to sustain its upward trend. He further stated that a breakthrough to $0.52 could lead the trend up to $0.65 and possibly $1.
Michaël van de Poppe noted:
“The one-day timeframe looks like it wants to continue the upwards momentum as we can see the strength in the bounce, which we can see across markets. In that regard, you’d preferably want to see the area around $0.45 hold for support and if that’s the case, a retest at $0.52 is next on the horizon.
A clearcut breakthrough of $0.52 is giving argumentation for even further upwards momentum, targeting $0.65 and potentially even $1.”
At the time of filing this report, XRP is trading at $0.4754, with a relatively 2% price downtrend in the last 24 hours, according to CoinMarketCap.