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XRP Price Prediction — $0.10 Crucial Support for Bulls

Price Predictions
Thu, 03/12/2020 - 14:35
Denys Serhiichuk
Are there any reversal patterns on the charts for XRP?
Cover image via www.tradingview.com

After today's dump in the cryptocurrency market, a short sideways trend has begun. However, all of the top 10 coins remain in the red zone.

Top 10 coins by Coinstats

In terms of weekly analysis, the XRP rate has lost almost half of its price.

XRP chart

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $7 006 381 659

  • Price: $0.159897

  • Volume (24h): $2 886 176 419

  • Change (24h): -26.33%

The data is relevant at press time.

XRP/USD: Is there an obstacle for sellers at $0.10?

XRP has fallen the least compared to Bitcoin (BTC) and Ethereum (ETH). The decline has amounted to 24.82% over the last day.

XRP/USD chart by TradingView

XRP is oversold on the hourly chart, as well as on other time frames. We can expect the short-term forecast to be a sideways trend as there are neither efforts from sellers to push the price lower nor strength from bulls to start a correction.

Related
ETH, XRP, LTC Prices Crash 10 Percent, LINK Among Worst Performers in Top 100. Are There Any Winners?

In this case, one may expect XRP to trade between $0.16 and $0.15 in the nearest days.

XRP/USD chart by TradingView

On the daily chart, a bearish mood has become even more visible. The MA 50 and MA 100 are dropping and there are no signs of a trend reversal. In this regard, a more likely price projection is a decline to the next important zone at $0.12.

XRP is trading at $0.1601 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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