XRP Price Pump Drives It to $0.56 Resistance Area! Is It Possible to Hit the Long-Awaited $1 Target?


XRP Price Pump Drives It to $0.56 Resistance Area! Is It Possible to Hit the Long-Awaited $1 Target?

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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What a hot period for Ripple! XRP/USD price has managed to hit the $0.43 area, and now it is heading to new resistance zones. Traders rub their hands with pleasure – those who invested in the bearish market have managed to reap benefits already, but the current high doesn’t seem to be the ceiling. Will Ripple reach the desired $1 target? Let’s read Ripple price predictions from tradingview users to find this out.

XRP rocket is fueled by BTC

XRP/BTC is still profitable

According to CASHLESSSOCYS, BTC acts as a support for XRP advances. The user was sure that BTC was going to get smacked by the 50 MA and then if not the 200 MA.

Don't forget every bull cycle, BTC will pump, but the price isn't as easy to move as the alts, and it probably never will be. XRP has been in the dirt for a while, and its current price pattern is looking very similar to the previous monster breakouts that it has had.

At this point, no one knows what will happen, but if you're looking for an alt to gain some BTC ground, XRP and ETH are ones to have eyes on. XRP looks great against the USD pair, no more downside, been holding support at around 30 cents forever, now pump, dump repeat.

They are both at previous BTC support held and are showing signs of a reversal. Keep watching, expect BTC to calm down in this range, and take your chance to increase earnings. And don't forget to get some BTC this time around after the pump.

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$0.39 will act as strong resistance

$0.39 is a critical level for Ripple

According to Coast1, $0.39421 will be the next tough resistance for XRP to break through for confirmation of further movement up. We have passed it already, but it might be a temporary occasion. This coin has had a good 30% run in the last couple of days, and now it is the rest period and a FOMO assessment.

Here’s what happens: a good large green candle (engulfing) would go along way to instilling confidence that we are moving higher. If not, then the next to consider is how strong are the metrics to buy the dip? We all need a strong confirmation.

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XRP long-term projections

Long-term XRP projections are positive

Here are a few long-term XRP price forecasts from user Jayed:

  • 1-3 Months. The price won't stop booming and breaking every method of measuring where it's going to stop. So for now, the trend is establishing for a full-blown run. The beginning of the previous cycle was also a continuation of its April run-up.

  • 3-6 Months. The purple projected movement will likely only be valid into July, where we’re expecting sideways consolidation through the year's end before we see bulls return. Thus the peak of the purple ascending wedge is only a short term potential range, not the projected 'apex' for this bull run.

  • 9+ Months. By the start of 2020, XRP's compounding utility volume to finally outstrip all downward pressures and the price to begin its final parabolic run-up. Unlike previous 'parabolic' run-ups, however, XRP is almost certain to enter an S curve. At this point volatility will shrink away and we will finally have our answer on what XRP's true value really is. This parabolic run-up will likely take anywhere from 2-5 years to play out. If this trend begins unfolding by the end of 2019/beginning of 2020, we should be able to determine XRP's 'true value' by 2025 within a 10% range of error.

Final thoughts

Ripple has broken out of its traditional patterns and finally seems to be establishing a bull run. If its $0.40 level is sustained for a while, it certainly means a small victory for XRP. On a daily chart, we need to go to the middle line of the uptrend channel of the $0.56-$0.59 area.

Price charts are taken from TradingView

Cover image via www.123rf.com
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BTC/USD Price Prediction — ETF Is Refused: Where Will the Price Move Next?


BTC/USD Price Prediction — ETF Is Refused: Where Will the Price Move Next?

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.

Fortunately, the ETF refusal did not influence the rate of Bitcoin; moreover, its quotes have increased by more than 2% over the last 24 hours.

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Since the beginning of May, the Bitcoin rate has risen by about 40%. However, its current value is still far from the record mark that the cryptocurrency reached in December 2017.

In terms of important fundamental factors, on May 20, 2020, the next Bitcoin halving (BTC) will occur, reducing the remuneration of miners by half. This process can have a significant impact on the price of the cryptocurrency.

Bitcoin price by the 210,000 block cycle by Bitcoin Charts

This will be the third halving on the Bitcoin blockchain: the first one took place in 2012, reducing the reward for each mined block from 50 to 25 BTC, while the second decreased the award to 12.5 BTC.

Number of installed Blockchain wallets by Blockchain.com

What is more, the number of blockchain wallets has increased by almost 35% (to 38 million units) since May 2018, despite the prolonged drop in the market. If the current dynamics continue, their number will approach the critical level of 50 million units by the end of the year, which will allow Bitcoin to rise in price to $10,000.

Regarding the technical part, the situation looks the following way.

BTC/USD chart by tradingview

Our BTC prediction made yesterday is coming true, as the quotes are looking upwards to the levels above $8,000. However, one should not wait for a quick bull run to $8,500, as there are no prerequisites for that. Neither MACD nor the RSI indicator show strength.

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Taking it into consideration, BTC can touch the $8,200 mark, which is supposed to be the highest peak of the current week. A confirmation for that is the decreasing BTC market share, which has recently fallen by more than 4%.

The price of BTC is trading at $7,897 at the time of writing.

Cover image via 123rf.com
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