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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?
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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.

Contents

 

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

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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's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
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    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

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.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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