XRP Price Prediction — Headed for $0.35 Without Significant Decline?

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Fri, 02/14/2020 - 14:10
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XRP Price Prediction — Headed for $0.35 Without Significant Decline?

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.

While Bitcoin (BTC) is trading sideways, altcoins are maintaining their growth. All top 10 coins are in the green zone while the biggest gainer is Tezos (XTZ), whose rate has risen by 5.45% over the last day.

Top 10 coins by Coinstats

Regarding the price prediction for the third most popular crypto, it remains almost unchanged. The short squeeze on Bitmex has not affected the rate of XRP.

XRP chart

Below are the key data for XRP.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $14 391 329 704

  • Price: $0,329256

  • Volume (24h): $5 332 457 356

  • Change (24h): 0.30%

XRP/USD: Squeeze on BitMEX a reason for growth?

Yesterday, after a night high, sellers pushed the price to the upper border of the yellow corridor at $0.310. At some point, the price volatility increased sharply and in a short time, we saw a rollback to the area of $0.30 and a sharp jump to a new annual maximum at $0.341.

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After that, trading volumes decreased, volatility fell, and the price consolidated in a narrow range at the $0.322 level.

XRP/USD chart by TradingView

Today, sellers could push the price to the $0.310 support. This upper border of the yellow corridor may deter the pair from further decline.

XRP/USD chart by TradingView

On a bigger time frame, the parabolic growth has not finished yet. The Bollinger Band indicator keeps going higher against the rising trading volume. If the situation does not change, traders might see $0.35 by the end of the current month.

XRP is trading at $0.3297 at press time.

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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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