A popular crypto strategist is naming two large-cap altcoins that he believes could influence the price action of the broader digital asset markets.
Analyst Michaël van de Poppe tells his 657,600 Twitter followers that he has his radar locked on peer-to-peer payments network Litecoin (LTC) and cross-border payments solution XRP amid the current crypto correction.
Van de Poppe believes that the two altcoins could give the crypto markets a shot in the arm.
“Stay sharp, stay focused.
Keep an eye out for XRP and LTC.
They’ll move markets.
And check whether we’ll be able to flip above the 200-week moving average for the total market cap in the next week.”
Pseudonymous trader DonAlt is also keeping a close watch on XRP and LTC as he believes the two altcoins have underlying narratives that could catalyze bullish price action.
“If you want to buy something, buy something with a narrative. That’s why I’ve been trading Litecoin; that’s why I’ve been trading XRP because I knew Litecoin – the halving narrative – you can make use of that.
XRP – the SEC case, you can trade that way. But those are the only ones that you can touch.”
At time of writing, XRP is trading for $0.52 and LTC is worth $77.58.
Meanwhile, Van de Poppe is also long-term bullish on decentralized oracle network Chainlink (LINK). According to Van de Poppe, he’s accumulating LINK at $5 and Litecoin at $77.
“Chainlink hits a new low. What does that mean?
It means that it’s still a great opportunity.
Investments take time, and buying at $6 is still a great choice. Buying at $5 is even better.
Survive the cascade and you’ll be fine.”
At time of writing, LINK is trading for $5.15.
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