XRP Price Targets $0.25, Promising 40-50% Profit in Mid-Term

Wed, 03/25/2020 - 09:06
Yuri Molchan
XRP has been showing tiny growth so far, managing to hold at $0.16. Now, an analyst believes it is heading over $0.20
Cover image via stock.adobe.com

After XRP hit $0.17 on March 20, it dropped and has been trading in the $0.15 range for a while. Now, crypto traders seem optimistic and are sharing their bullish takes, saying that the third most popular currency by market cap may rush to $0.25 and offer 40-50-percent gains in the mid-term.

‘Expecting 40-50% Profit in mid-term’

While looking at an XRP/BTC chart, analyst and trader ‘Captain Faibik’ stated that XRP has reached a vital support level at 2,400 Sats. He believes XRP is going to hit 0.00003725 BTC ($0.25) in the mid-term and expects profits of 40-50 percent from the current price.

Inverse Head and Shoulders

Trader ‘Alex_Clay’ from TradingVIew expects XRP to rise, believing it is now safe to open a long position. He warns that he does not offer financial advice and that his readers should do their own research before trading. His target for XRP is $0.17358.

‘We completed one target on previous upward wave. now price formed an inverse head and shoulders bullish pattern, which means we can take a long position.’
‘Do not trade this idea before you make your own analysis!’

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‘Printing a Rising Wedge pattern’

Trader ‘David_Smith’ has written that XRP is forming a bearish Rising Wedge pattern, expecting XRP to drop to $0.15310

‘Price printed a rising wedge pattern. We can go short only on a confirmed breakout of the support trendline with a small risk.’

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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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