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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Crypto Analyst Deciphers XRP Price Movement: What’s Next For The Altcoin?

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Ripple - XRP

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One of the leading names in the crypto analysis sector, Michael van de Poppe, recently shed light on XRP’s price movements. Known for his crypto observations, his latest tweet has stirred conversations in the crypto community, especially pertaining to Ripple’s native cryptocurrency, XRP.

In his most recent analysis, van de Poppe indicated that XRP’s price movement is now at a critical juncture. 

XRP Entering The ‘Area Of Interest’

Particularly, according to Michael van de Poppe’s tweet, XRP is currently moving into what he terms an ‘area of interest’ on its weekly chart. This essentially points towards potential pivotal moments in the coin’s price trajectory that can be significant for traders.

Related Reading: Ripple Report Foresees Blockchain Saving Financial Institutions $10 Billion By 2030

It’s $XRP which is getting into the area of interests.

Just be able to buy the dip. pic.twitter.com/mBc71YtC2j

— Michaël van de Poppe (@CryptoMichNL) August 7, 2023

Based on his analysis, the current position of XRP may soon pave the way for a favorable long-trade entry, aligning with the upcoming market cycle. Further expanding on this, he advised traders to remain vigilant and consider buying the dip in the impending weeks.

This comes at a time when XRP’s price has seen a decline of over 10% in the past two weeks, a movement influenced heavily by developments with the Securities and Exchange Commission (SEC). As recent data shows, the altcoin experienced a decrease of 10.8% over the previous seven days, positioning its trading value above $0.6.

Understanding The Factors Behind The Dip

So, what prompted this dip in XRP’s value? Van de Poppe’s analysis provides a perspective. He emphasizes that the significant price fall XRP experienced over the last month is majorly attributed to long-term holders. These holders, witnessing the surge or “heavy impulse” in XRP’s price, saw it as an opportune moment to offload their holdings.

XRP analysis by Michaël van de Poppe
XRP analysis by Michaël van de Poppe. | Source: X (Twitter)

Additionally, another notable observation from van de Poppe is the current “lack of interest” in the cryptocurrency markets. This diminished interest, according to the analyst, is responsible for more pronounced price corrections compared to what’s usually seen during bull market cycles.

Such market sentiment can significantly influence how cryptocurrencies, including XRP, perform and are perceived by potential investors.

Related Reading

XRP

XRP Journey To $10: Unveiling The Forces That Could Trigger An Upward Momentum

1 year ago

Over the past 24 hours, XRP has seen a slight dip of 0.5%. This price action has brought the altcoin to currently trade at a price of $0.61, at the time of writing. Notably, alongside its value, the asset’s market capitalization has also seen a significant plunge dropping by more than $4 billion, in the past week.

XRP’s market cap is currently valued at $32.5 billion as of today, losing almost $4 billion compared to the value of $36.3 billion seen last Tuesday.

XRP price chart on TradingView.com
XRP price is moving sideways on the 4-hour chart. Source: XRP/USDT on TradingView.com

Featured image from iStock, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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