XRP Price Prediction — Moving Slowly to $0.25 Level

Price Predictions
Tue, 02/25/2020 - 14:11
Denys Serhiichuk
Is the market situation favorable for XRP holders?
Cover image via www.tradingview.com

In light of the recent price fluctuations in the cryptocurrency market, many altcoins have been hit hard. In this case, XRP is no exception.

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In terms of the weekly analysis, the rate has decreased from $0.28 to the current value at around $0.2650.

XRP chart

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $11 593 501 822

  • Price: $0,264998

  • Volume (24h): $2 276 241 253

  • Change (24h): -3.71%

The data is relevant at press time.

XRP/USD: Any hope left for continued growth?

Yesterday, the decline in the XRP/USD pair reached the orange support of $0.266. In this area, trading volumes began to decline and the support level suspended the decline.

XRP/USD chart by TradingView

Some consolidation of the XRP price in this area is possible today, but if the pressure intensifies, the decline will continue to $0.236. Also, this is confirmed by the RSI indicator, which continues to fall.

XRP/USD chart by TradingView

On the daily chart, the bearish scenario is also prevailing over the bullish one. XRP is forming a Triangle pattern with the nearest support zone at $0.25.

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XRP Price Expected to Go Above $0.40 While Its Liquidity Rises

Thus, the trading volume continues declining, which means buyers have no power to push the price higher. In this case, traders can expect the above-mentioned level in the first days of March.

XRP is trading at $0.2644 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 makes 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, can be contacted at denys.serhiichuk@u.today.

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