XRP Potential Price Trigger Analyzed By Important Name In The Crypto Space

Ripple has been seeing a lot of success this year while boosting the whole XRP ecosystem and also pushing the mass adoption of the digital asset XRP.

XRP to see a pullback soon?

Crypto analyst Michaël van de Poppe thinks that Ripple’s native token XRP is ripe for a pullback after tapping a major resistance area.

He told his followers on Twitter that he’s looking for a retracement of over 27%.

It seems that he doesn’t expect XRP to take out a key level of resistance in the short term.

He said that XRP would have to break through a major barrier at around $0.32 to trigger the next big move to the upside.

A follower responded with: “No way it will dip that much… see the bigger picture… the last one was due to corona… the worst pandemic in human history. Why the hell would it go down… I expect a small correction and then to the moon.”

At the moment of writing this article, XRP is trading in the green and the coin is priced at $0.299041.

Another important analyst agreed with Poppe and said that XRP’s rally on August 11th was a bull trap. He’s expecting to see a 15% correction.

In other news, it’s been revealed that Ripple is planning to expand the use case a lot beyond streamlining cross-border payments while teaming up with various banks.

Brad Garlinghouse said they want to make Ripple the Amazon of the crypto world.


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Brad Garlinghouse
Brad Garlinghouse

Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.

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CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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