Bitcoin to See Dip Before Uptrend Continues: Crypto Analyst
• Crypto analyst Michaël van de Poppe gives his outlook on the Bitcoin (BTC), XRP, Litecoin (LTC), Fantom (FTM) and Chainlink (LINK) markets following XRP’s favorable ruling in its U.S. Securities and Exchange Commission (SEC) lawsuit.
• Van de Poppe predicts a slight dip for Bitcoin before it continues its upward trend, while he expects XRP to dip slightly before continuing its rally.
• The analyst also shares his thoughts on LTC, FTM, and LINK, predicting that they will all continue their uptrends soon.
Crypto Analyst Weighs In On Aftermath of XRP Ruling
Popular crypto analyst Michaël van de Poppe is weighing in on the market’s reaction to the recent favorable ruling for XRP in its lawsuit with the U.S. Securities and Exchange Commission (SEC). Following an explosive surge across various altcoins, Van de Poppe shares his analysis on how this could affect Bitcoin (BTC), Ripple’s native token XRP, Litecoin (LTC), Fantom (FTM), and Chainlink’s LINK tokens.
Van de Poppe believes that as long as BTC stays above $30,800, everything should be fine for Bitcoin. However if BTC falls below that mark then “we’ll probably have some liquidity on the downside for Bitcoin to grab.” He sees this as a positive sign for altcoins finding momentum in the coming days.
The crypto trader forecasts a slight dip for XRP before resuming its rally upwards; traders should consider scalping between $0.65-0.69 range according to Van de Poppe’s analysis. At time of writing XRP is trading at around $0.78, up 64% since yesterday’s ruling was announced by Judge Torres of U.S District Court of Southern New York district court .
Given Litecoin’s relatively muted response to yesterday’s announcement compared to other cryptos like FTM which skyrocketed over 30%, Van de Poppe suggests watching out for BTC holding steady above $98 support level so that LTC can resume its uptrend once again; at time of writing LTC is trading at around $101 USD .
Fantom & Chainlink
The analyst thinks there is potential upside of over 30% ahead for FTM if it holds support levels around $0.28-029; currently FTM is trading at around $0.29 USD . With regards to Chainlink’s LINK token , Van de Poppe reiterates his previous sentiment about buying beneath the $5 mark being an “opportunity of a lifetime;” currently LINK is valued at around $7 USD .