January 24, 2021


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

Ripple price prediction: XRP to $0.50, analyst

3 min read

TL;DR Breakdown

  • Ripple price prediction expects a rise to $0.50.
  • Strong resistance lies at the $0.31 mark.
  • Strong support lies at the $0.285 mark.

Ripple has shown resilience. After troubles at the Ripple Labs, Ripple had a sharp crash, but it now appears to be making progress. Ripple topped the day at $0.3153, while the 24-hour low for the cryptocurrency was $0.2551. At the time of writing, Ripple stands at $0.3065. Although, the market sentiment for Ripple continues to be bearish analysts expect that the stable coin is making some progress.

Ripple price prediction: XRP to $0.50, analyst 1
Ripple price prediction chart by Trading View

Out of the twenty-eight technical indicators, thirteen are signaling sell with nine neutral and six as buy indications. Eight of the oscillators are neutral with 2 sell and 1 buy indications. The moving averages are mostly giving sell indication with 1 neutral indication and 5 buy indications.

Ripple price prediction: What to expect?

Analyst Ali Valatabar has identified the Ripple XRP stable coin price in a descending channel formation in his Ripple price prediction. As of now, the cryptocurrency is skirting close to the support level of $0.2227. The analyst predicts that the support level will hold for the cryptocurrency. Per the analyst, Ripple will soon test the support level and successfully hold the support. The support will encourage Ripple towards a break out from the descending channel formation.

Ripple price prediction: XRP to $0.50, analyst 2
Ripple price prediction chart by Ali Valatabar

If Ripple is successful in breaking out of the formation, it can go as up as $0.40. However, it will most likely not maintain its upward trajectory, and the analyst expects another retesting of support. Still, this time, the support level will be the upper boundary of the descending channel formation – previously resistance. The analyst expects Ripple to be successful in this testing of support as well, and a sharp hike can be expected. If all goes well, the analyst is predicting an optimistic potential target of $0.50 from the cryptocurrency. 

Analyst Nagihatoum is expecting Ripple to follow Gann’s lines in their Ripple price prediction. The analyst has identified various Gann levels. As per the analyst, Ripple can very likely be following the Gann lines. However, the analyst is not expecting strong bearish momentum from the cryptocurrency. Per the analyst, Ripple has to close below the first support level of $0.2850 on the weekly timeframe for the onset of strong bearish pressure. If it does, Ripple can test all the identified Gann lines, all the while testing major support levels. In an ominous prediction, the analyst has identified a potential price of $0.06, which will also be a key support level. However, the analyst states that the cryptocurrency doesn’t need to test all these support levels and Gann lines. 

Analyst Ehsan has identified a falling wedge formation in their Ripple price prediction. The bullish formation indicates strong upward pressures on the cryptocurrency. The analyst is expecting a break out from the formation to the upside. Per the analyst, Ripple’s potential target can be $0.65 after which it will stabilize at the level. Another analyst, Nak G3, has also pointed out a very optimistic prediction for Ripple. Per the analyst, after some major fluctuations, Ripple can possibly go as high as $0.8 and even cross the $1 mark. 

Source link

Leave a Reply

Your email address will not be published.