XRP Price Prediction — Reaching $0.30 Before Correction?

📈 Price Predictions
Fri, 02/07/2020 - 13:53
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While Ethereum (ETH) is still located in the green zone ahead of the upcoming correction, XRP is already experiencing it. The rate of the third most popular crypto has declined by 1.06% over the last day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Nonetheless, the rate of XRP has risen from $0.23 to $0.2840 over the last week.

XRP weekly chart
XRP weekly chart

Below is the relevant information for XRP.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $12 196 229 423

  • Price: $0,279101

  • Volume (24h): $2 959 630 835

  • Change (24h): -1.26%

The data is relevant at press time.

XRP/USD: Targeting $0,30 Soon?

Yesterday, buyers tried to continue growing, but the price was limited by the upper limit of the green ascending channel. Sellers managed to push the price below the $0.280 support for a while, but buyers with renewed strength continued to test the border of the corridor for strength.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

This morning, volumes decreased slightly and the pair again rolled back to the $0.280 level. During the day, a resistance re-test of $0.290 is possible with a reversal in the rollback, to the support of $0.266.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP is overbought on the RSI indicator. In the current scenario, the most likely outcome is a correction to the nearest liquidity level at around $0.25.

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If that projection happens, the area will be achieved by the end of the curent month.

XRP is trading at $0.2788 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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