XRP Price Prediction — Should Traders Forget About Surge to $0.30 in Short-Term?

Price Predictions
Fri, 02/21/2020 - 16:14
Denys Serhiichuk
Should traders expect this XRP price rally to continue in the short-term?
Cover image via www.tradingview.com

Even though the fast growth of the cryptocurrency market has stalled, the top 10 coins remain in the green territory. Litecoin (LTC) is the top gainer with its price increasing by almost 7% over the last day.

Top 10 coins by Coinstats

Overall, the XRP price has reduced by around $0.10, according to the weekly chart.

XRP chart

The relevant XRP data is looking the following way.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $12 040 521 791

  • Price: $0,275308

  • Volume (24h): $2 927 099 042

  • Change (24h): 3.36%

The data is relevant at the press time.

XRP/USD: Can Bulls Come Back to $0.30 Till the End of February?

Yesterday, sellers continued to press and pierced the lower border of the ascending green channel, but the support at $0.266 was able to keep the pair from falling to the area of $0.236.

XRP/USD chart by TradingView

Tonight, buyers pushed the XRP price back into the green corridor and will try to restore the pair to the average price range during the day.

Related
XRP Price Set to Reach $0.70 as Crypto Traders Turn Bullish

If overcoming the resistance of the two-hour moving average does not work out, then the price will look for support at the level of $0.28 in order to consolidate.

XRP/USD chart by TradingView

On the higher time frame, the situation is less optimistic. Even though XRP faced some corrections along its ongoing growth, a deep decline has not occurred so far. In this regard, the nearest price projection is a drop to the liquidity zone around $0.25 until the end of the current month.

XRP is trading at $0.2751 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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