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XRP Price Likely to Hit $0.56 in Early December, Crypto Trader Says

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Thu, 11/21/2019 - 13:00
Yuri Molchan
A crypto trader analyses a crucial fractal on the chart, saying that a possible outcome could be $0.56 for 1 XRP by early December
Cover image via 123rf.com
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Despite the active expansion of the Ripple ecosystem and signing up over 300 new customers on RippleNet this year, the XRP price remains below $0.3.

At press-time, XRP is declining by 2.85 percent and is exchanging hands at $0.24.

Image via CoinMarketCap

A win-or-bust XRP forecast

The community has been eager for the price to surge throughout 2019. On Wednesday, U.Today published a story with bullish forecasts regarding the price.

Today, a crypto trader @TheCryptHawk has shared a chart on his Twitter page. It shows a possibility of XRP surging to $0.56 in early December if the fractal depicted on the chart in in play.

If not, the trader says, the price may collapse to $0.17-$0.18 and then – down to $0.12.

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XRP below the $0.25 support

A short while ago, XRP dropped below the $0.25 support level, where the coin had not been in several months. This is happening despite the recent Swell conference, which was expected to push the coin’s price way upward.

The community was expecting a bull run, since last year in November, as many believe, Swell triggered it. As a result, in January 2018 XRP hit its all-time high of over nearly $4.

This year, the loyal XRP community expects a bull run every now and then but all those expectations have been in vain so far. This seems strange to many, since Ripple has indeed expanded its network significantly and provided a lot of actual utility cases for XRP.

Optimists are buying on the dip while the price is low (same as many doing when the Bitcoin price drops), hoping to reap their profits later on when XRP skyrockets.

 

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.

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