In this day, the popular altcoin Ripple (XRP) displays a horizontal graph. XRP, which posted a big uptrend last week and rose from $ 0.70 to $ 1.35 in the process, lost momentum in the new week and fell to $ 1.25 levels. Michaël van de Poppe, one of the most popular cryptocurrency analysts in the world, presented his expectations for Ripple (XRP), Stellar (XLM) and Litecoin (LTC).
The cryptocurrency market had a positive start to the weekend. Cryptocurrencies, which accelerated higher when leading cryptocurrency Bitcoin broke the $ 48,000 resistance yesterday, is preparing to make a positive weekly close.
The altcoins Popular Ripple (XRP), Stellar (XLM) and Litecoin (LTC) show a horizontal chart on the new day. Ripple (XRP) is trading at $ 1.22 as of this writing, Stellar (XLM) is trading at $ 0.37, and Litecoin (LTC) is trading at $ 179.
Ripple (XRP) set to break records
Michael van de Poppe, one of the world’s most popular cryptocurrency analysts, explained his expectations for XRP through a video posted today on YouTube.
The experienced analyst stated that the popular altcoin it has exhibited similar movements over time.
Stating that Ripple’s new uptrend may also be quite strong, Poppe stated that XRP may target the $ 2.85 and $ 4.30 levels. If Ripple can reach the $ 4 levels, as Michael van de Poppe said, can beat the price record of $ 3.40 that it broke in 2018:
“We see XRP moving up. Looking at the daily chart, the popular altcoin is making the same moves in broader ways. For example, it started to rise in November and then fell with the SEC’s lawsuit. It started to rise in the same way in May and then it was corrected. When we look at its current situation, we can see that it may take a new uptrend. Looking at the Fibonacci numbers, Ripple could target the $ 2.85 and $ 4.30 levels. “
Stellar and Litecoin could return to highs
Michaël van de Poppe also examined the Stellar (XLM) and Litecoin (LTC) charts. By stating that most of the altcoins draw similar graphics, Poppe claimed that Stellar may make a correction before the big increase.
The seasoned analyst explained that LTC may initiate a major upward movement in the near future, where you can go back to the old record levels of $ 400:
Stellar, on the other hand, exhibits similar moves to Ripple at this point. When we look at the Bitcoin parity, we can see that it has entered a similar accumulation process in 2017. As for the USDT parity, it is very possible that it will return to its previous levels. We could see a correction before the big breakout and the $ 0.31 levels could be ideal entry levels. ”
Referring to Litecoin (LTC), he noted:
“When we look at Litecoin, we can see that it can make a big move to get back to the levels where the price broke records. The $ 150 support level may be the levels that can be entered before the surge. ”
Adverse development in the case against the SEC
The SEC’s highly critical lawsuit for the popular altcoin Ripple (XRP) continues. In December, the regulator filed a lawsuit against the giant company blockchain Ripple for allegedly making illicit profits by selling unregistered securities.
Ripple, on the other hand, formed its defense on the fact that XRP is no different from Bitcoin and Ethereum.
In inviting former SEC corporate finance director William Hinman to a hearing in July, Ripple was met with unexpected remarks.
According to the situation that arose with the publication of the minutes of the hearing during the week, Hinman cautioned against selling unregistered securities to Ripple:
“They asked me if there would be a renewal or an adjustment to the securities laws. I told them that they continue to sell XRP as unrestricted securities. I told them, ‘If you want to comply with the regulations, you have to stop doing this.’ They must have understood ”.
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