0
📈 Price Predictions
1486 views

Ripple Gets Immune To Market Trends: Why XRP Price Is Said To Skyrocket Soon?

Ripple Gets Immune To Market Trends: Why XRP Price Is Said To Skyrocket Soon?
Cover image via www.123rf.com

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.

Contents

XRP seems to be moving against the logic of the crypto market: it shifts in price up to and down in the opposite direction when we don’t expect that. The same thing is happening now, and traders get inspired. Will XRP break out the resistance line? Why traders keep a bullish outlook at XRP? Read XRP price predictions from tradingview users – they share interesting opinions about the short- and long-term future of Ripple.

Some patterns to think about

XRP patterns can invalidate

XRP/BTC is in a critical spot right now that could either confirm long term reversal or potentially endanger the year-long low. In the last two months, XRP has broken up from a descending channel (indicated by the red arrow), a pennant (indicated by the blue arrow) while forming another major pennant in the process (green line).

A break up from the green line would indicate three moves up from three major interim patterns in a row, potentially a very bullish sign and could confirm a true reversal in year-long terms.

A move down from the green support line would reject this pattern and leave us with little support on the way down t 0.00000004600 area set on May 26th, the year-long low from May 19th would be our next major support. Should we break down there we are still in a long-term bear market.

Thus, big moves are coming up from XRP. We might see this pattern fully break out before entering.

👉MUST READ

Retail Banks Will Save Billions by Adopting Blockchain: McKinsey Report

Retail Banks Will Save Billions by Adopting Blockchain: McKinsey Report

Volume is driven by rumors

Breaking resistance can trigger growth

The user CryptoNTez has noticed that XRP Rumors around MoneyGram being acquired by Ripple are giving some boost in volume to XRP today. Indeed, making a buzz around a cryptocurrency can be very profitable, but will it give Ripple the long-awaited kick?

If you’re still unsure whether XRP is worth your attention, consider keeping an eye into it. If we cross over 5500 sats resistance, it may trigger a bigger move. Volume has been increasing over the last days, and if things keep going like this, Ripple can bring some bang for your buck.

Trend reversal is near

Trend reversal coming

Local Top on BTC giving space for alts to make some bullish moves. XRP is above moving averages which have proven to be resistance for more than 3 months. This is a significant sign. So, why user ChristiaanvanderMerwe is bullish about XRP/BTC pair? There’s a trend reversal coming, it’s possible thanks to:

  • Price trading above moving averages;

  • Golden Cross forming between 50 and 200 MA;

  • High volume potential for a resistance breakout.

👉MUST READ

LTC, EOS, BCH, BSV, TRX, ADA, XLM Price Overview — Bears Heavily Bombard the Market

LTC, EOS, BCH, BSV, TRX, ADA, XLM Price Overview — Bears Heavily Bombard the Market

Bollinger bands will make XRP explode

XRP can grow by 50-80%

Here’s one more positive outlook. This time, on XRP/USD pair. After taking a quick look at this, it seems after the Bollinger Bands started to loosen up after consolidating, we had extreme upward price movement. The same thing could be happening now. Ripple can make a serious outbreak and increase in cost by 50-80%.

Final thoughts

While Bitcoin has suppressed its movement, alts are attacking the market full-force, and Ripple is expected to make the most violent breakout. XRP has already broken to the upside out of the descending triangle, and a monthly hold above the EMAs would be very bullish. Keep tabs on XRP – it has all the chances to explode.

XRP price charts by TradingView

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

👓 Recommended articles
0
📰 News
232 views

XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

👉MUST READ

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

👓 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