Trader Predicts XRP to Retrace Gains and Sets Downside Target
A crypto strategist, Michaël van de Poppe, suggests that XRP may fully retrace the gains it made after Ripple’s legal victory against the SEC. He believes that XRP could fall to around $0.45, which was its price level before the landmark ruling. Van de Poppe explains that investors are taking this opportunity to sell their XRP holdings after holding them for over a year. The lack of buyer confidence contributes to the altcoin’s decline. The strategist also predicts potential downside for Dogecoin, with a possible fall to around $0.069 before a surge towards his target of $0.10.
Key Points:
- XRP may fully retrace its gains after Ripple’s legal victory.
- Investors are selling their XRP holdings after waiting for over a year.
- Lack of buyer confidence contributes to XRP’s decline.
- Van de Poppe predicts a potential downside for Dogecoin.
- DOGE may experience further corrections before regaining bullish momentum.
Hot Take:
XRP and Dogecoin are facing bearish predictions from crypto strategist Michaël van de Poppe. The lack of buyer confidence is dragging XRP’s price down, potentially leading to a full retracement of its gains. Dogecoin may also experience corrections before resuming its bullish momentum. These predictions highlight the volatility and uncertainty in the crypto market, emphasizing the importance of careful analysis and risk management for crypto investors.
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