The cryptocurrency market does not see much activity on the first trading day of the new year. Investors are curious about what’s next. For this reason, many crypto analysts are followed. Now, two popular crypto analysts have shared their latest altcoin predictions. Here are the details…
Michael van de Poppe speaks for popular altcoin LTC
The global crypto market cap has increased by 0.61% in the last 24 hours, according to CoinMarketCap. This has increased the aggregated crypto market cap to approximately $799.27 billion at the time of writing. One crypto contributing to the recent increase in global crypto market value is Litecoin (LTC), which has risen 7.48 percent in the last 24 hours. This impressive daily price action for the altcoin pushed its price up to $74.54 at the time of writing. As a result, the price of LTC has also increased by 7.87 percent in the last 7 days.
LTC also gained 5.71% and 5.43% respectively against the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH). Crypto analyst Michaël van de Poppe (@CryptoMichNL) shared that LTC is going “according to plan,” according to his previous analysis of the altcoin. However, the analyst said that the coin “did not get input”. In his tweet yesterday, he stated that if LTC price breaks above the $72 resistance level, it will continue rapidly to $80. This means that the price of LTC could target $80 in the next 48 hours.
LTC’s price climbed above the 9-day and 20-day EMA lines but encountered resistance at $78, which brought the price down to its current level. Technical indicators on LTC’s daily chart still indicate the presence of bullish momentum. Currently, the 9-day EMA line has crossed just above the 20-day EMA and now acts as support for the price of LTC. In addition, the daily RSI line is positioned above the daily RSI SMA line and slopes positively towards the overbought zone.
Analyst’s other comments: Bitcoin, altcoins, XRP…
On the other hand, the analyst shared a series of tweets today. First of all, he talked about XRP and pointed out that this coin has received a lot of liquidity. He stated that although the coin does not drop to $0.265, it accelerates the process in the order books if it loses $0.34. Preferably, he said, $0.33 should be held in XRP and then it will rally to the upside.
A ton of liquidity has indeed been taken on $XRP.
Didn't drop to $0.265, but losing $0.34 accelerated the process in thin order books.
Preferably I'd want to see $0.33 hold and then we can rally upwards. https://t.co/4BxAaZHpxi pic.twitter.com/c2kzCHQTg1
— Michaël van de Poppe (@CryptoMichNL) January 2, 2023
In addition, the analyst also shared his latest comments for Bitcoin. He pointed out that Bitcoin is also going according to plan. He states that BTC must hold $16,600 to continue on the upside. He thinks that this level will continue to $ 17,000 and will find results.
That's going according to plan.
Holding $16,6K for continuation and took some highs.
I'd like #Bitcoin to still hold above $16,6K as that would result into continuation towards $17K. https://t.co/Tlh3Jdpx8H pic.twitter.com/UtclQesPaO
— Michaël van de Poppe (@CryptoMichNL) January 2, 2023
As a result, the analyst stated that he does not think that altcoins will see a huge drop. According to the expert, at this point, it is important to save rather than sell.
All I hear is the fact that people are saying that #altcoins will crash another 50-90% from here.
They could. Definitely. It's a bear market, but it's the longest till date for most of the #altcoins -> 19 months.
I wouldn't recommend to start selling here.
Accumulate.— Michaël van de Poppe (@CryptoMichNL) January 1, 2023
There is a comment about the Ripple case
On the other hand, analyst Ben Armstrong, aka BitBoy, shared an extremely optimistic forecast for 2023. The first part of the prediction is directly related to Ripple winning its lawsuit against the SEC, which has become a familiar pattern in the community. However, the second part of the prediction was really surprising. According to Armstrong, the new year should be the year that the current head of the regulator, Gary Gensler, will be forced to resign. As we reported on cryptokoin.com, Armstrong made calls for the collapse of FTX at the beginning of last year.
2023: The year the $XRP case ends and the Ripple curse is broken.
Also the year @GaryGensler is forced to resign from the @SECGov
— Ben Armstrong (@Bitboy_Crypto) January 1, 2023
John Deaton, another pro-XRP activist and crypto lawyer, sees a different picture. He believes the issue will be settled by a judge without the pre-trial agreement that many in the XRP community had hoped for. Such a result makes crypto’s chances of winning the case more uncertain. According to Deaton, Gensler will make no concessions on the case and will admit that XRP is not a security.
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