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📈 Price Predictions
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XRP Price on the Way to $1 Long-Term Target: When to Expect a Fantastic Breakout?

XRP Price on the Way to $1 Long-Term Target: When to Expect a Fantastic Breakout?
Cover image via 123rf.com

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.

Contents

XRP seems to be accumulating volume and power for a serious breakout. But how powerful should it be? And, most importantly, will we see Ripple overcome the $1 threshold? Check out what traders think about it: read XRP price predictions from tradingview users and compare their XRP price charts.

$0.58 by September?

Bullish flag is waving

Buyers are waiting for the range to break. As you can see we have had our breakout impulse with a correction to $0.36, finding a floor just off 0.35 with a spike.

Price returned to $0.46 with a double top fail leading bulls to build up in a range of $0.36 to $0.46 (10 cent price spectrum). Price is currently in a pinching bullish flag within the range. A good breakout of the flag inside the range can help carry price above the green dotted line. This will help support bulls to continue to buy in order to break the yellow angular range completely.

Next target for buyers is $0.51 to $0.58 with a medium TP around $0.55 cents.

We can also see that the floor has risen from $0.26 to $0.33 angular direction and flat at $0.36 cents in its current range. We can add a buy position at $0.33 if price takes us there. If it doesn’t continue, we should be holding. Last year, June, July and August price was sideways and bearish before a massive rise in September. Keep in mind price can very well stay within this yellow range back down to the floor with a sideways accumulation continuation before a rise to $0.55.

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XRP is to surpass Bitcoin’s value

XRP can outperform Bitcoin

Widening divergence indicates increasing momentum behind XRP.

Historically, the gap between the two closed as XRP always went up to match BTC's value during a rally. You can compare March 2016 and 2017/2018 rallies: within 21 days of the BTC rally, XRP went up to match its value perfectly. If this pattern repeats, this means we can take advantage of an anticipated BTC rally by investing more in BTC/alts, get the returns, sell out of BTC/alts and then reinvest into XRP to take advantage of its following rally.

Right now XRP is undervalued compared to BTC and the widening divergence is only adding more momentum. If the trend with the previous 3 bull runs is consistent, then the upcoming bull run will see a $25 top. A 7 fold increase from the previous $3.60 high.

XRP is gaining momentum

The trend isn’t over yet

Here, we can see the volume is getting lower, and we still are in the downtrend. The market seems to be preparing for a big move. We have the strong $0.38 level, and we will see if it will form the bottom (maybe a double bottom). Anyway, the trader is very bullish on XRP.

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XRP is still on track

Move from the bottom will shoot XRP to $0.80

On the chart, we see that DBL bottom is forming nicely as expected from the last analysis and great volume. We are looking for big upward movement to start after daily close within the first 2-4 hours. All that needs to happen is a break above the downtrend. The move out of the DBL bottom will definitely hit $0.80 if it shoots up with a parabolic move. After that, the $1 target will be much easier to break within several months (by 2020).

Final words

So, on traders’ charts, we can see the following:

  • Falling Wedge (Bullish)

  • Daily pivot with major and intermediate trend fib confluence serving as the major support

  • Volatility Buy Signal still intact

  • Long lower shadows on the candle are bullish

  • Declining sell volume indicates reduced selling pressure

Judging by all the technical indicators, we will consolidate until September and begin to break out to $0.55 up to $1.00 by the end of the year to the mid first quarter of 2020.

Ripple price charts by TradingView

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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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.

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