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.

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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
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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.

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