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XRP Price Predictions Are Both $0.29 and $0.57. Who Wins: Bulls or Bears?

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XRP Price Predictions Are Both $0.29 and $0.57. Who Wins: Bulls or Bears?
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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.

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Without a doubt, XRP is the most controversial cryptocurrency on the market in the recent bull run. Having fallen by over 15% overnight, XRP suffers from the lack of volume and power to break resistance. Before the bull run, it somehow managed to crawl out of the abyss and even surpass $0.40, but what’s next? Will the upcoming bearish market erase the advances earned so laboriously? Read Ripple (XRP) price predictions from tradingview experts – their opinions deserve our attention.

On the waves to $0.57

Will XRP reach the $0.50 target?

A curious XRP price chart was published by homatosan. Here, we can clearly see Elliot waves and XRP surfing somewhere on the 2nd wave. Does it mean it can reach the long-awaited target above $0.50? Well, this pattern should be validated first. At the moment, it’s not clear whether it has finally formed – the recent drop might have cancelled it.

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We go back to $0.29

Escaping the triangle XRP signed a death sentence

Okay, here’s another pattern and an absolutely different prediction. On the XRP price chart from mycotoxin, we can see XRP escaping the triangle and heading to the bottom. If that happens again, Ripple can truly reach the $0.29 mark.

XRP reversed off resistance

Ripple approaches the first resistance level

In the price chart from easyMarkets, we can see that the XRP price is approaching our first resistance (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where we might see a corresponding drop to our first support level (horizontal swing low support, 100% Fibonacci extension). Stochastic is also approaching resistance where we might see a corresponding drop in price. Thus, XRP isn’t likely to reach $0.43 again in the near future.

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A gain of 400% is possible?

Traders can reap 400% of profits from XRP

Based on the resistance confirmation price action that has been getting on XRP recently, DrDovetail is confident the real top trend line of the descending triangle pattern XRP is currently likely. This pattern is the one we are finding resistance right now. If the pattern validates, we will likely break above it and out of the pattern sometime this week or next, and the breakout target is $1.30.

In the chart, you can find other potential top trend lines with their respective breakout targets as well, just in case it is not the official top trend line of the triangle. If we are to break out of the triangle here and move to $1.30, that will undoubtedly trigger the long awaited 1-day golden cross as well, which will likely lead to even more upside. If it follows LTC’s lead exactly we could then see XRP rise by 118% from that golden cross before a correction. Of course, moving from $0.33 to $1.30 will already be a gain of over 400%, but it’s not the final target.

Final thoughts

Right now, we are waiting for Ripple to recover from the harsh night when it dropped by over 15%. Its spike to $0.43 has inspired traders, so it’s not all lost yet. Probably, if Ripple manages to survive again and overcomes the most serious resistance levels like $0.50 and further, traders will reap truly significant profits. You have all chances to be one of them!

Price charts are taken from TradingView

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper

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    World-famous investor and Bitcoin bull Tim Draper explains what reasons will push Bitcoin price to $250,000 by 2023

Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper
Cover image via en.wikipedia.org

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.

Contents

While speaking to the audience at the Malta AI & Blockchain Summit last week, the billionaire and prominent Bitcoin supporter Tim Draper confirmed his previous forecast for the BTC price hitting $250,000 in the near future.

This time he explained that this high price per one BTC will be achieved through the growing use of the Lightning Network and explained how it will happen from his point of view.

Bitcoin still to hit $250,000

The Bitcoin permabull Tim Draper again stated that the Bitcoin price is going to hit $250,000 by 2022-2023. He said this will happen due to the growing use of the Lightning network which allows conducting payments in BTC easily.

Being a major global investor, he nevertheless shares the opinion of many crypto enthusiasts that BTC is not only a store of value but it can also be used to pay for things in everyday life – micropayments, the retail sector, etc, i.e. is perfect for adoption.

Previously, Tim Draper stated that his forecast of BTC reaching $250,000 was actually a quite conservative prediction.

Will Bitcoin get to be worth $1 mln?

As reported earlier on Wednesday by U.Today, the crypto asset manager and a trader Marius Landman tweeted that before Bitcoin hits $1 mln, it is bound to go through ‘super hyper inflation’, in which price drops by $20,000 will be considered insignificant.

He also expects Bitcoin and Litecoin to show ‘subito motus’ (Latin for ‘sudden movements’) soon, saying that this will leave uninformed investors and technical analysts at a loss.

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Smaller bullish BTC forecasts

Other traders and analysts seem to think more vaguely when they are looking at technical analysis graphs. They are bullish, nevertheless.

The @crypto_rand trader with over 216,000 followers on Twitter simply posts a chart, saying that Bitcoin ‘still looks bullish’.

Another analyst and trader PlanB has published a chart of the way the changes in the Bitcoin mining difficulty have impacted the BTC price. People in the comment thread agree that this data at the moment is bullish for the Bitcoin price.

At press-time, Bitcoin is sitting at $8,823.

BTC price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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