Closely followed crypto strategist and trader Michaël van de Poppe is keeping a close watch on XRP as he says the sixth-largest crypto asset is starting to gather some momentum.
In a new strategy session, the crypto analyst tells his 120,000 YouTube subscribers that XRP is threatening to launch a 46% rally from its current price of $1.26.
“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.”
Using the Fibonacci extension tool, Van de Poppe says the target price for XRP is $1.85, which is close to its 2021 high of around $1.96.
Van de Poppe is also looking at XRP