Trading Expert Predicts Enormous Gains for Ripple’s XRP Price


Trading Expert Predicts Enormous Gains for Ripple’s XRP Price
Contents

Ripple’s XRP could be on the cusp of another major price rally, according to trading expert Crypto Thies. Based on his technical analysis, the XRP price could witness “enormous gains” in the short-term.

👉MUST READ

LTC, ETH, EOS, and XRP Prices Nosedive – Predictions After the Bloody Night on the Crypto Market

LTC, ETH, EOS, and XRP Prices Nosedive – Predictions After the Bloody Night on the Crypto Market

XRP takes a hit  

Piers Morgan’s catchphrase “One day you’re cock of the walk, the next you’re a feather duster” is very relatable to the cryptocurrency market. After stagnating for weeks, the price of XRP suddenly surged by more than 43 percent USD-wise on May 14-15 once Coinbase opened up trading in New York. XRP was the best-performing cryptocurrency in the top 10, but the rally didn’t last long.     

On May 17, XRP recorded an intraday low of $0.359 after its price tanked by more than 25 percent. All major altcoins collectively took a hammering on Friday after the Bitcoin price suddenly experienced a 20 percent drop, which was allegedly caused by market manipulations.

👉MUST READ

Ethereum, XRP, XLM Surge Highest Along with Bitcoin, McAfee Criticizes ETH

Ethereum, XRP, XLM Surge Highest Along with Bitcoin, McAfee Criticizes ETH

A dicey situation

The blow was too hard for XRP to rebound. At the time of writing, it is trading at $0.369 after yet another 3.32 percent price decrease over the last 24 hours, according to CoinMarketCap data.  

Now, XRP is facing its make-it-or-break-it moment. If its price breaks below the $0.340 level, things could turn ugly for Ripple’s native token with its next downward target being significantly lower. Trading expert Peter Brandt earlier suggested that a huge price drop would be almost inevitable if that’s the case.

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

About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

👓 Recommended articles