XRP price prediction: set to hit $0.20
2 min readTable of Contents
TL;DR Breakdown
- XRP price prediction expects further fall in XRP price
- Coinbase to remove XRP from listing in mid-January
- Volatility remains sky-high
- Bearish plummets set to continue into the New Year
- SEC lawsuit continues to set XRP price on a downward spiral
XRP price has defied all technical indicators of late following the SEC lawsuit against Ripple. This was only further reinforced by Coinbase confirming the removal of their XRP listing earlier today.
Falling from rank three to rank four on CoinMarketCap, XRP price currently wobbles on a support level found around $0.225 – down 20 percent on the day’s opening price.
If this pattern continues and exchanges progressively remove XRP from their listings, HODLers may see their portfolio continue to depreciate in value into 2021.
At the time of writing XRP price is currently $0.227.
Use the oscillator below to check what role XRP might play in your portfolio.
XRP price prediction: 1-Day chart overview
The 1-Day chart shows us the sudden plummet back into the $0.20 region for XRP price and the continual degradation of its store of value.
The Historical Volatility (HV) indicator shows us a peak in volatility as the price fell from $0.45 to $0.21. This would usually indicate a time to buy while prices are at an All-Time-Low (ATL), but in this case, the technical indicators no longer paint a clear picture.
The Relative Strength Index (RSI) indicates a high chance of XRP being considered oversold, but again, this indicator now means very little unfortunately in light of recent news.
With the news consistently barraging XRP with negative publicity, the XRP price only continues to fall.
XRP price prediction: 1-Week chart overview
The 1-Week chart shows a steep bearish decline that sits below all opening week prices for the last three to four months.
As HV rises and RSI declines, there could be a bounce in XRP price if it touches the $0.20 level, but this is unlikely following recent publicity.
XRP price prediction: volatility overview
Volatility remains at an All-Time-High (ATH) as XRP price submerges below water-level and gasps for air.
As the price proceeds to depreciate, volatility continued to climb. This was true until the Coinbase announcement today resulted in a further 20 percent fall in XRP price. This fall resulted instead with a decrease in volatility – this could perhaps be a sign of acceptance of the XRP price direction.
XRP price prediction conclusion: XRP set to hit $0.20 by the weekend
As XRP price and publicity continue to decline following the SEC allegations in recent news, it comes as no surprise that XRP looks set to hit $0.20.
Despite volatility at an ATH and RSI about to dip below the >30 boundary, XRP might yet be depreciated further in value as holders continue to sell in fear of the lawsuit outcome.
As the SEC lawsuits can take up to five years to be commenced, ruled and finalized – it is likely that XRP won’t see the light at the end of the tunnel any time soon.
As always, trade safely, carefully, and only what you can afford to lose.
