19th April XRP/USD Ripple Price Prediction

  • Alex Morris
    πŸ“ˆ Price Predictions

    Against the background of the crypto market, Ripple looks unnoticed. However, maybe it is XRP that will rocket soon. Let’s get down and analyze it

19th April XRP/USD Ripple Price Prediction

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

April 19 has started off for XRP with a significant decline: its price reduced by approximately 2% just in 1 hour. However, then a bounce back happened, and the coin came back to the previous level at $0.33.

XRP/USD chart by tradingview

On the 1-hour chart, one can see the formation of a bearish trend line, which will push the price down to the $0.32 mark. The following scenario is likely to happen as XRP has lost around $300 million of trading volume in just over the past 24 hours.

πŸ‘‰MUST READ Ripple Price Prediction for April 2019 – Breakout Under Way
Ripple Price Prediction for April 2019 – Breakout Under Way

Analyzing the 4-hour chart, XRP is demonstrating a downward trend as well.

At the same time, convergence is observed on the MACD indicator, which shows a weakening of the downward tendencies. Resistance in the current pattern is at $0.345, a breakout of which will be a signal for the development of the next bullish wave. The immediate goal of growth will be the level of $0.37.

XRP/USD chart by tradingview

At the moment, the $0.30 area remains quite strong support for Ripple. Thus, it is likely that the price of XRP will rise above $0.3320 and $0.3350 in the near future, but only with an increase in trading volumes. This is really a crucial moment for the digital asset.

Aside from technical factors, there are also other reasons for potential growth.

The Bakkt platform is about to obtain a NYDFS license to start trading cryptocurrency, including Ripple. If NYDFS gives the green light, the largest financial companies will be able to buy XRP. As a result, profits will increase, and the price of the coin will go up significantly.

Cover image via 123rf.com
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