0
🤷 Opinions
1228 views

Could XRP Price Break $0.5 After Smashing Through Recent Key Resistance?

  • Darryn Pollock
    🤷 Opinions

    Ripple’s XRP token has smashed👊 ↗️ through another key resistance barrier in the latest rally and could be set to reach $0.50 at this 👉 📉.rate.

Could XRP Price Break $0.5 After Smashing Through Recent Key Resistance?
Cover image via www.123rf.com
Contents

The recent Bitcoin rally that has seen the major cryptocurrency creep up towards the $9,000 mark has also had a positive effect on a number of other top 20 cryptocurrencies by market capitalisation.

One of these is XRP, which has managed to smash through a key resistance marker and now looks set to continue pushing its price higher towards an important psychological milestone, $0.50.

XRP has seen a 10% price surge over the past 24 hours, causing the cryptocurrency to rise above the $0.40 level to where it currently trades at $0.428. And, in the last 30 days, the cryptocurrency has managed to grow by 42 percent indicating a lot more bullish potential.

Aiming for half a dollar

XRP, despite being the best performing cryptocurrency in the top echelons of the market in 2017, has not had as a successful 2019. The Ripple owned cryptocurrency has struggled to make big gains while other tokens have shone, however, that could be changing at the moment.

The new ceiling that XRP is aiming at is a major one, and a psychologically big goal to reach. If XRP can be worth $0.50, it would indicate a good amount of gains, as well a noteworthy new floor for it to try and stay above.

👉MUST READ

Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

For XRP to increase and reach the $0.5 target level, the cryptocurrency would still need to rise by another 18% from the current price. The last time that the cryptocurrency was at the $0.50 level was during November 2018 before a massive sell off caused a huge market wipeout.

Short term bullish

Because XRP has crossed the $0.40 resistance level with relative ease, and has stayed comfortably above it, there is a good reason to be short term bullish on the Ripple asset. However, if its next move was downwards, and down towards $0.35, things would then take a very bearish path.

👉MUST READ

Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

The bullish push continues above $0.43, and it can expected that there will also be higher resistance above to be located at $0.4376, $0.44 and $0.46. However, a lot of this ability to push through these resistances will also depend on Bitcoin as it leads the way in the cryptocurrency market currently.

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings