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XRP Price Prediction — One More Effort to Hold Above $0.15

Price Predictions
Wed, 03/18/2020 - 13:47
Denys Serhiichuk
Are there any technical patterns left that may become bullish for XRP?
Cover image via www.tradingview.com

The cryptocurrency market has remained almost unchanged since yesterday. The biggest loser in the top 10 list remains Tezos (XTZ). Its rate has declined by 5.21% in the past day.

Top 10 coins by Coinstats

Although the rate of XRP is going down against the US Dollar, its correlation with Ethereum (ETH) is completely different. The rate of XRP has even risen against the chief altcoin over the past 24 hours.

XRP chart

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $6 248 564 736

  • Price: $0.142523

  • Volume (24h): $1 992 018 658

  • Change (24h): -3.02%

The data is relevant at press time.

XRP/USD: Any bullish efforts remaining against the bearish market?

Yesterday, buyers pierced the $0.150 resistance level, but this did not succeed in continuing the recovery of the XRP/USD pair. The Ripple price is located in a narrow lateral range above the hourly moving average EMA55.

XRP/USD chart by TradingView

If buyers can show a surge in activity and demonstrate a breakthrough, then the maximum is possible around $0.170. If there is not enough strength for this deceitful maneuver, then the price will simply roll back to the area of the annual minimum.

XRP/USD chart by TradingView

On the daily chart, the situation is becoming more vivid. XRP is stuck within a Falling Wedge pattern. According to technical analysis, such figures are usually bullish.

XRP Price Expected to Drop Below $0.10 after Massive Dump

Moreover, the selling trading volume is dropping, meaning that bears are running out of efforts to push the rate below current levels. Summing up, the nearest scenario is a move to the $0.16 resistance zone.

XRP is trading at $0.1421 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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