XRP Price Targets $0.24+ as XRP Liquidity Index Hits New ATH of 23.8 Mln

Thu, 04/09/2020 - 14:00
Yuri Molchan
XRP is in the green, trading at $0.19 and traders are expecting further growth. Meanwhile, XRP liquidity in MoneyGram’s largest ODL corridor has just reached a new ATH
Cover image via stock.adobe.com

The third most popular cryptocurrency is trading at $0.1987 at the time of writing and some traders believe it might be moving higher soon, breaking the $0.20 threshold in the long term.

‘Expecting target 0.24 usd +’

Crypto trader ‘Protixder’ from TradingView has shared a chart where he shows the path the XRP price is expected to take in the long term. The target is $0.24+.

Image via TradingView
“NEW CHART study. XRP looks good at this moment as enter, and expecting soon more high target. Expecting target 0,24 usd + at long term.”

A confirmed breakout might happen

Trader Alex_Clay said in his forecast that the XRP price is now testing the strong resistance at $0.20. If the outcome is bullish, he said, then the asset will continue growing.

“We already completed one target after price reached our first buy zone. now price testing the strong resistance and if there is a confirmed breakout we can take a long positon.”
Image via TradingView

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Rising Wedge on the table

Trader David_Smith has written that XRP is forming a Rising Wedge pattern, which is usually a bearish sign.

Image via TradingView
“Still being rejected of the horizontal resistance and also we got a rising wedge. Due to rejection we might have a correction to the lower boundary of the pattern. If we break the wedge to downward then down we go.”

XRP Liquidity Index hits new ATH

Less than an hour ago, the index of XRP liquidity in the Mexican ODL corridor (the Ripple-backed Bitso exchange) reached a new all-time high of 23,846,931, rising passed its previous ATH of 23,565,530. XRP liquidity and its adoption are, thus, increasing. The XRP Liquidity Index in the other two corridors that this Twitter bot watches (Australia and the Philippines) have also come close to reaching a new all-time high.

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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, can be contacted at yuri.molchan@u.today.

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