Ripple’s XRP Price Could Regain Bullish Momentum After Reaching This Crucial Level: Crypto Trader

📰 News
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • 📰 News

    XRP will not be able to switch back a bullish mode until it reclaims the $0.26 level, according to crypto trader Eric Choe

Ripple’s XRP Price Could Regain Bullish Momentum After Reaching This Crucial Level: Crypto Trader
Cover image via 123rf.com

According to cryptocurrency trader Eric Choe, Ripple's XRP could revive its bullish momentum if it touches the $0.26 point. This level is seen as pivotal for the third biggest cryptocurrency by market capitalization to eye bigger price gains. 

XRP Price
image by @CryptoChoe

Must Read
XRP Fans Rejoice: Bank of America Names Ripple Innovative Technology Maker - READ MORE

As reported by U.Today, XRP dropped below its critical support of $0.25, which was considered to be a critical support level for the token, on Nov. 21. It opened the door to a potential drop to the $0.15 level. XRP hasn't managed to recover since then.   

The controversial token continued to bleed in November and eventually dropped to $0.206, thus reaching its lowest level in two years. Yes, it's the cheapest XRP has ever been after the previous cryptocurrency market bull run peaked in December 2017. 

Still, there is a high degree of probability that XRP could eventually drop to as low as $0.17. Choe states that this scenario will come to fruition if the asset keeps getting "weak reactions."

There is no shortage of bearish XRP price predictions. The token was struggling even during Q2 2019, which was allegedly caused by Ripple's continuous sales. 

Must Read
Ripple's XRP to Be Listed on Biggest Crypto Exchange in Malaysia - READ MORE

Trading vet Peter Brandt opined that XRP could get clobbered all the way down to the $0.02 level. Meanwhile, a linear regression forecast shows that the token's price could even go to zero, but this is not a reliable way to make price predictions.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted