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19th April XRP/USD Ripple Price Prediction

Price Predictions
Fri, 04/19/2019 - 12:06
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Denys Serhiichuk
??Let’s analyze how Ripple is influenced by the market mood
19th April XRP/USD Ripple Price Prediction
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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
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.

Related
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
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.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.