- The positive XRP ruling may stir a massive upside for the coin in the long term per Michaël van de Poppe.
- The top analyst also foresees upside for MATIC and LINK.
Renowned analyst Michaël van de Poppe has given an epic bullish projection for certain altcoins including Ripple’s XRP, Polygon (MATIC) and Chainlink (LINK). Speaking to his over 660,000 followers on Twitter, van de Poppe explained that XRP may likely experience a downward trend at around $0.65 before pushing a positive momentum. Specifically, he predicted that the rally which would follow the pullback would have XRP inching towards $0.90.
Noteworthy, the XRP coin, renowned for its cross-border payment capabilities, was trading at $0.7376 at the time of this writing, having plunged by 1.12% in the last 24 hours.
Beyond XRP: It Looks Like Altcoin Season Already
Following the announcement from Judge Analisa Torres of the Southern District Court of New York that the programmatic sales of Ripple’s XRP does not constitute the offering of investment contracts, XRP price shot up 60% hitting its 2023 high. As a result, it added about $21 billion to its valuation in a single day.
XRP trading volume hit $10.4 billion following the positive ruling, a figure that suggested that the recent surge in price might just be taking off.
Van de Poppe is also bullish on other promising tokens as well. In the case of LINK which just recovered support at $6, the analyst confirmed that there is an incoming surge. In the first week of this month, van de Poppe claimed that LINK is on the verge of starting a bullish price rally and would secure gains of more than 150%, leading to a new high of $15 in the long term.
“Chainlink is back in the range,” his tweet reads, “Flipped $6 for support, through which we’re on the edge of taking out many highs and expansion to the upside.”
This time around, he is hinting at the possibility of the altcoin reaching $16. Meanwhile, LINK is currently trading at $6.67, down by 2.15%.
MATIC on the Radar
The last altcoin that the trader is bullish about, is MATIC, the native token of the Ethereum scaling protocol Polygon. The analyst believes MATIC may experience the same setback as XRP. It could plummet as low as $0.75 before finally moving up. Presently, MATIC has a market value of $0.7843 and had dropped by 0.37% in the past 24 hours.
“Two areas of interest on this one. Aggressive approach, I’d be interested at $0.79-$0.80. Conservative approach, I’d be interested at $0.75. Probably not done with this upwards momentum,” the crypto analyst tweeted.
There are other forecasts that suggest that MATIC may likely hit $1.50 before the year ends and this will require that it doubles its current price value to reach the target. It is believed that the recent price growth is largely connected to Polygon’s Non-Fungible Tokens (NFTs) metrics. Some data sources have confirmed double-digit jumps in trades in Polygon-based NFTs over the past week.
