Van de Poppe: XRP, Litecoin, Stellar and Tezos Are Ready To Launch New Rallies
Michaël van de Poppe, a widely-followed cryptocurrency strategist and pro-trader is closely following on XRP, Litecoin and two other altcoins that he says are on the verge of waking up.
XRP
In a recent strategy session, the van de Poppe shares with his 116K YouTube subscribers that Ripple’s native token XRP is ready to rally and print a new all-time high.
“When you look at the USDT values of XRP, you can actually derive Fibonacci extension to make the next target zone. So when we do that by Fibonacci retracement, and we do it like this, we get $2.85 and $4.30 as the next target zones for XRP in the next impulse wave. If we do it from the previous cycle, we can also say that we’ve hit the 2.618 [Fibonacci zone]. So most likely, in the next run up, XRP will go to $4.30.”
According to the trader, XRP is mimicking its price action from December 2020 to April of this year when the sixth-largest crypto asset surged over 1,052% from $0.17 to $1.96.
XLM
The second altcoin Van de Poppe’s follow list is multi-currency transaction network Stellar (XLM). XLM could likely print a bullish higher low setup at $0.31 before skyrocketing to its 52-week high of $0.79, according to the analyst.
“It’s still looking quite fine. The chances of XLM going all the way back towards this high [$0.80], have some consolidation before it breaks to the upside, is significant.”
LTC
The trader is keeping an eye on Litecoin in its Bitcoin pair (LTC/BTC). He believes that the peer-to-peer payments network has managed to stay above a key support level against Bitcoin and is gearing up to register a new higher high at 0.01 BTC, worth $491 at time of writing.
“So I’m assuming anywhere in this range [0.003 BTC, or $150 at time of writing] we’re going to have the bottoming for Litecoin, after which we break back up, have some consolidation, then we start running.”
XTZ
Lastly, van de Poppe looks at smart contract platform Tezos against Bitcoin (XTZ/BTC). The pair is forming a bottom structure and is now getting ready for a 68% rally from its current price of 0.000077 BTC, or $3.86, he says.
“We are making a beautiful rounded bottom. That is Peter Brandt, his thing. But we are making a rounded bottom here, in which we got a squeeze, and the chances of this one breaking out heavily towards the resistance zone that we have around [0.00013 BTC, or $6.52] is massive.”
