Top Trader Says Ripple (XRP) To Soar Big Further, If Bitcoin Consolidates
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Poppe believes that the XRP rally can continue if Bitcoin rises above $20,000.
Despite Ripple (XRP)’s huge rally in recent days, Michaël van de Poppe, CEO and trading expert at trading platform Eight, believes that the cryptocurrency can still continue to rise based on Bitcoin’s performance.
According to Poppe, if the world’s largest cryptocurrency by market value consolidates and rises above $20,000, XRP, along with other altcoins, can also experience major breakthroughs.
“Well, XRP has had a big breakout. The thing is, if Bitcoin consolidates and goes back to $20,000, it’s probably time for more altcoins to make big breakouts. Poppe said on Twitter today.
He urged altcoin investors to prepare for an immediate rally if Bitcoin strengthens above $20,000, rather than thinking that BTC will fall to $12,000-$14,000.
“Position yourself well and don’t rely entirely on a $12,000-$14,000 thesis.” Poppe added.
Very, $XRP has erupted strongly.
The thing is, if #Bitcoin consolidates and returns to above $20,000, it’s probably time for more altcoins to make big breakthroughs.
Position yourself well and don’t rely entirely on $12,000-$14,000 theses.
– Michaël van de Poppe (@CryptoMichNL) 23 September 2022
XRP Spikes Despite Crypto Market Crash
Indeed, XRP has recorded massive gains over the past seven days. This comes after Ripple and the Securities and Exchange Commission officially filed motions for summary judgment. It became clear that the court case that has held back the growth of XRP for more than a year is coming to an end soon.
Events in the lawsuit suggest that the case may end in Ripple’s favor, with cryptocurrency investors quickly adopting XRP, driving up its price. Over the past seven days, XRP has risen over 50%, taking its price from $0.32 to $0.55.
Meanwhile, Bitcoin has struggled to break the $20,000 resistance over the past five days. The most popular crypto asset has been trading between $18,300 and $19,700 since September 19, 2022.
Interestingly, XRP is the only cryptocurrency among the top 10 coins not affected by Bitcoin’s underperformance. As reported, LunarCrush ranked XRP ahead of 3,821 top coins in terms of relatively combined social and market functions.
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