Ripple Price Prediction — How Long Will XRP’s Fall Last?

  • Denys Serhiichuk
    📈 Price Predictions

    🔧 🔝Ripple has managed to fix above $0.40. Our XRP price prediction analyzes whether bulls have the strength to go further🐂 💪


Ripple Price Prediction — How Long Will XRP’s Fall Last?

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.

Although bulls are trying to come back to the cryptocurrency market and most of the top coins are in the green zone now, Ripple, as always, is the exception to the rule. Currently, it is the only asset out of the top 5 coins whose rate is going down.

Top 5 coins

The obstacle standing in the way of a price rise might be the news that Thailand's largest bank, Siam Commercial Bank (SCB), has denied its statement about the “imminent” introduction of Ripple technology for international transfers.

Now, let’s get to the technical picture to predict the possible XRP rate.

XRP/USD 1-hour chart

The quotes followed our earlier scenario, according to which the price bounced off of the $0.37 level.

For a strong recovery, the price of the XRP should be fixed above the resistance levels of $0.3950 and $0.4. The next key resistance is near the area of $0.4110, above which the price may return to the zone of increase.

The Ripple chart shows that recovery is very likely in the near future, and by the middle of the month, traders may see $0.42 per coin.

XRP/USD 1-day chart

Ripple returned to support in the form of a recently overcome cluster of $0.4000-$0.4100 after retesting the current year’s maximum point of $0.4700. The current week may confirm the formation of a Pennant consolidation model of technical analysis, which may lead to an increase in the summer to powerful resistances at levels of $0.5000, $0.5200, $0.5681 and $0.6000.

👉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

An alternative would be further decline in case of another complete market dump in the area of horizontal consolidation of $0.2860-$0.3630, where the 200-day moving average line is located.

The price of XRP is trading at $0.4028 at the time of writing.

Cover image via 123rf.com
Join our Telegram channel to get news even faster!

About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

👓 Recommended articles

ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?


ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?

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

Resisting the bears’ attempts to beat it down, Ethereum price retains its positions around $250. Moreover, it’s said to be approaching the $400 goal. When should it happen, and why are most traders optimistic about ETH’s future? Let’s analyze Ethereum price predictions from tradingview users and compare their price charts – you will be surprised to discover most of them share similar opinions.

Target – wave III

Ethereum moving on waves

Look at the pattern from Crypto_Boer: the wave pattern is playing out perfectly, and now Ethereum keeps moving to the wave III somewhere at the $377 level. The finish target here is $440, which can be achieved in mid-September or October.

👉MUST READ

New Ethereum-Based Tool to Be Added by Bloomberg Terminal for Crypto Trading

New Ethereum-Based Tool to Be Added by Bloomberg Terminal for Crypto Trading

$360 by the end of June

 $400 mark can be hit in August

Here’s another price chart showing us Ethereum’s way to the heights. Bulls may show up soon. Our target is $360 for 50% upside potential. If ETH reaches such a level, crawling to the $400 mark in July-August will be more than possible.

Beware of a double bottom

ETH should go through a correction

Of course, before Ethereum is able to reach the desired heights, it should go through a correction. User JRghost predicts that ETH should touch $287 before starting the retracement. Price may look to hit PRZ and retrace, then extend to double bottom measured move.

Here are the technical indicators to prove that:

  • Coinciding bearish patterns - Cypher/Butterfly.

  • PRZ is highlighted in red

  • .382 and .618 zone for each pattern highlighted in Green

  • 382 is confluent for a back-test of double bottom confirmation line.

  • Higher Levels of Relative Strength

👉MUST READ

5 Popular Ethereum Mining Sites in 2019

5 Popular Ethereum Mining Sites in 2019

Closest targets for ETH

Major targets for ETH

User bread911 has noticed a major momentum divergence on the ETH/USD 4 hr chart. The average is $236.50, while our major resistance targets now are $265, $280, and $340. The first two targets can be easily overcome during June, but what about the third one? It’s possible to reach, too!

Final words

ETH looks really good on the weekly and daily charts – we have broken the trend-line resistance, and begun fresh up-trend. The 5th Elliot wave count is looking primed.

If we manage to break up in the coming days, there’s a big chance Ethereum will reach $290-300 and then simply turn down again. It could potentially even become high for the coming months. If we drop and break down from the current patterns, ETH will stay inside the $220-260 range during June, but it will be more likely to break resistance later, and we’ll see a much bigger rally in the coming months.

Some traders also claim they see a triangle on the price chart, which is a sign of bulls being eager to get in and bears giving up. They simply can't break the flag support because there are just too many bulls wanting to get in.

Ethereum has already managed to break the major $230 resistance, but there’s a possibility of an H&S pattern, which we can consider to be some kind of neckline. If it breaks, outcomes might be sad. $250 is a clear short term resistance now, and the trend is still up, so candles are likely to pop up.

It should be noticed that a lot here depends on Bitcoin. For instance, ETH can repeat its current head & shoulders pattern and take a short nosedive. But in case of growth, we’ll see kicking off the push to $400 for the ETH/USD pair.

Ethereum charts by TradingView

Cover image via 123rf.com
Join our Telegram channel to get news even faster!

About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

👓 Recommended articles