April 18, 2021

Cryptheory

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

Ripple Price Prediction: XRP outdoing itself as the bulls remain engrossed in pushing it past the $1 mark

3 min read

TL;DR Breakdown

  • Ripple price prediction shows today’s trading has seen Ripple hit a 3-year ATH at $1.05.
  • The current price movement is being controlled by the bulls with the desire to get higher support.
  • A price dip under the $1 mark is likely to activate further price decline towards the $0.85 and $0.65 regions.

Ripple’s price movement for the past week can be compared to a young Usain Bolt on enhancement drugs.

Ripple Price Prediction: General price overview

Late last year, Ripple and XRP looked shacky following the lawsuit filed against its top management and platform. According to the Securities and Exchange Commission (SEC), Ripple networks had gone against regulation laws by selling unregistered securities to investors for more than 7 years.

Although the case is still in court, there is reasonable ground to believe the Blockchain network will emerge as the winners, while XRP will be allowed to run as an independent digital asset. In the meantime, XRP fanatics took matters into their hands during the Easter weekend to remarkably push XRP prices to new highs. During the latest price rally, XRP managed to rise above multiple resistance levels such as $0.6, $0.65, $0.7, and the coveted $1 mark. The price rally did not stop there as it took advantage of the tail force situation to accomplish a 3-year high of $1.2.

Ripple price movement in the past 24 hours

Ripple Price Prediction: XRP outdoing itself as the bulls remain engrossed in pushing it past the $1 mark 1
Source: TradingView

Yesterday, Ripple traded with a full bullish force at the $0.99 region, having sliced above the 0.755 double top resistance level. At present, XRP has started recording slight price declines to trade at the $0.9 zone as Ripple has entered the overbought region, now that the RSI is hovering around 61, and the MACD is closing substantial histograms.

Looking at the 20 and 50 EMA periods, XRP is likely to stay away at the 0.632 support resistance level, suggesting the crypto asset has entered the overbought zone. This means XRP is expected to experience a little bit of bearish price correction before resuming its bullish onslaught.

Over the past week, Ripple has appreciated by about 68 percent. The volume of tokens exchanged in the 24-hours to the time of writing is more than 30 billion. This is equivalent to 14 percent of the total volume of all virtual assets in the market. In the past week, Ripple has exchanged in a range of about $0.55 to $1.1. Despite its impressive bull run, the current Ripple price still falls short of its all-time high value of $3.3 set on 4 January.

Ripple 4-hour chart

Ripple Price Prediction: XRP outdoing itself as the bulls remain engrossed in pushing it past the $1 mark 2
Source: TradingView

According to the 4-hour chart, XRP is likely to correct under the $1 mark. If this happens, the market should be ready for the beginning of a dumping session. If Ripple fails to gain support at the $0.8 level, XRP is likely to look for haven at the $0.6 region. Lucky for the digital asset, the 50, 100, and the 200 Simple Moving Average (SMA) are on the toe to cushion it from further losses towards the $0.4 region.

Conclusion

At present, 1 XRP token costs more than a dollar. Although it is still not as much as the milestone established in 2018, Ripple appears to be forming a similar pattern. During the 2018 ATH, 1 XRP was equivalent to $3.7. So far, Ripple is still among the top 5 significant digital assets, even in the midst of legal challenges. Moreover, Ripple CEO Brad Garlinghouse recently stated Ripple was ready to proceed with its purge despite the lawsuit.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Source link

Leave a Reply

Your email address will not be published.