XRP Price Heading Up – Will Bulls Make It to New High?

News
Fri, 03/27/2020 - 12:52
Yuri Molchan
The third largest currency has risen to the $0.17 level over the past two weeks and traders are now predicting it to break $0.20, although some disagree
Cover image via stock.adobe.com
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Since the 50-percent collapse of the Bitcoin price on March 12, the third most popular cryptocurrency, XRP, which dropped to $0.1236 then, has now regained the $0.1760 level.

The XRP Liquidity index just started gaining strength for hitting a new all-time high in Australia after a heavy drop on March 13 in several ODL corridors. Traders now cannot agree on which scenario XRP is going to execute in the short-term, but more of them are bullish.

Is XRP heading for $0.225?

Trader ‘Lingrid’ from TradingView is of the opinion that XRP is heading upwards and has set $0.225 as the next target. She explained her bullish prediction by saying that XRP has broken the resistance line.

“XRPUSD broke the resistance line. I bet on the growth of XRPUSD. I predict that the price will reach the level of 0.225”
Image via TradingView

Related
Nearly 90 Mln XRP Moved by South Korean Exchanges Amid COVID-19 Spread

Earlier, U.Today reported that trader ‘Captain Faibik', on Twitter, also expected XRP to rise in the short term. He wrote that XRP was targeting the $0.25 level and would bring its investors 40-50 percent profits in the mid-term.

Bearish take

Trader ‘Nagihatoum’ shared a chart on which is shown a Rising Wedge pattern forming, often considered a bearish sign. He expects XRP to make a deep plunge and hit $0.0938, calling the setup a Bear Flag. 

“Rising wedge, call it what you want, it is going down. And it has been going down that channel for almost a year and a half. Long not recommended, only the microtrend is up. I expect the XRP suicide army to show up on my idea.”
Image via TradingView

 

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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, can be contacted at yuri.molchan@u.today.

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