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+.
“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.”
Rising Wedge on the table
Trader David_Smith has written that XRP is forming a Rising Wedge pattern, which is usually a bearish sign.
“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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