Bearish start of the week! The Crypto market is hovered by roars of the bears as the overall Cryptocurrency market is in a bloodbath. Following Bitcoin’s dip below $40,000, the crypto market had to undergo a series of liquidations.
The other cryptocurrencies like Ethereum, XRP, Litecoin, Solana, and Cardano too have plunged among others.
Analyst’s Positive Approach Towards XRP and Litecoin
A widely followed crypto analyst, Michael Van de Poppe foresees a bull rally for Ripple’s XRP and Litecoin and also he expects one key metric to ignite the bull run for the digital assets.
Michael Van de Poppe, a popular analyst urges his 584,000 Twitter followers to look out for XRP, as the XRP Price is getting ready for a new breakout.
As per the analyst, the more the chart squeezes, the heavier the breakout is!
At the time of writing, Ripple’s XRP is trading at $0.7428 with a plunge of 4.25% over the last 24hrs.
The next cryptocurrency that has caught Van de Poppe’s attention is Litecoin where he claims that Litecoin is set to have its bull run after facing a long downtrend.
The crypto strategist, states that he is expecting one metric to reverse before the crypto rally gets back on its track. According to the analyst, the US dollar index (DXY), which positions the USD against a basket of fiat currencies, is required to reverse the track of its nearly 1-year long rally.
Michael Van de Poppe is also looking out for a pair of lower-cap altcoins and he says that Syscoin (SYS), a blockchain that provides assets powered by Bitcoin’s hash power and is currently at an attractive support level for bulls.
According to the strategist, the decentralized finance (DeFi) platform, Orion Protocol (ORN) is predicting long-term opportunities for bulls even though a few traders may be carried away by its bearish price action.