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XRP Price Prediction — Moving Slowly to $0.25 Level

Price Predictions
Tue, 02/25/2020 - 14:11
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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.

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

Top 10 coins by Coinstats
Top 10 coins by Coinstats

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

XRP chart
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
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
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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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.

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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Price Predictions
Sun, 03/29/2020 - 19:05
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
Cover image via www.tradingview.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.

Bears are not giving any chances for the bulls. The altcoins market is following the trend of the main crypto; however, there are some rollbacks. This is mainly with XRP, which is the biggest loser from the Top 10 list. Its rate has increased by almost 2%. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The situation has remained almost unchanged since last week with the cryptocurrency market. Respectively, the dominance rate and position of Bitcoin (BTC) remains the same, currently sitting at 65%.

BTC’s dominance rate
BTC’s dominance rate

Below is the relevant data for Bitcoin and how it is looking today:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $112,508,256,614

  • Price: $6,150.27

  • Volume (24H): $29,780,276,933

  • Change (24H): -2.04%

BTC/USD: Any Hope for a Bounce Back from Current Levels?

Our recent Bitcoin (BTC) price scenario is coming true as the coin continues to trade between the range of $6,000-$6,300. In terms of our weekly analysis, the rate for the coin remains unchanged.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Looking at the 4H chart, Bitcoin (BTC) is testing the rising channel's support line, which was formed on March 16th. From a technical perspective, there might be a breakout towards the resistance zone at $7,000 as the current week has been an accumulative one before a sharp price blast. Moreover, the Moving Average Convergence/Divergence (MACD) indicator confirms short-term growth.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Looking at the daily chart, the 50-Day Moving Average (MA) has crossed the 200-Day MA, forming a 'Death Cross' pattern. This means that the $3,600 level is unlikely to be the bottom.

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Moreover, the Relative Strength Index (RSI) indicator is located in bearish divergence territory. In this case, the first stop for the ongoing long-term fall is $5,000.

At press time, Bitcoin was trading at $6,123.

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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XRP & Ethereum Plunge 90% From Record Highs as It Risks Big Correction

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