XRP Price to Reverse After Reaching $0.20: Trader Explains Why

News
Sat, 04/04/2020 - 12:09
Yuri Molchan
Traders expect XRP to print a brief price surge before going down again
Cover image via stock.adobe.com
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While many are permanently bearish on XRP since its price has been trading in the lows since early 2018, some believe it is going to post a short-term rise soon.

A decline after reaching $0.20?

Trader ‘transparent-fx’ has posted his fresh analysis of the XRP price on TradingView. In his video, he shared his expectations regarding XRP going up from the current $0.18 level and starting to reverse after reaching it to hit $0.14.

However, he does not rule out that the third largest coin may continue its way up once it reaches $0.20.

Image via TradingView

‘Descending triangle forming on the lows’

Entrepreneur and swing trader @LeoDiCrypt0 says he has been bearish on XRP for more than two years and does not see what can make him change his attitude. He points out at a Descending Triangle formation on the chart and says that it is much more likely to decline than to break upwards.

‘XRP might continue towards 3100 Satoshis’

Analyst Michal van de Poppe, who rarely posts XRP analysis, has shared a sort of bullish forecast, saying that XRP might head from the current level towards 3100 Satoshis - $0.213.

Related
XRP Liquidity Hits New ATH as Large Amounts of XRP Keep Moving Between Wallets

‘XRP will go sub $0.10 again’

Twitter user @RobertArtRobArt, an XRP enthusiast, again tells his followers (as he had done several times before) that XRP is going to decline below $0.10. In his previous posts, he stated that when it happens it will not be bad – just another chance to buy the dip for true XRP believers.

Today he has claimed that Bitcoin will eventually drop below $5,000 too.

“Bitcoin sub $5K will happen again. XRP sub $0.10, too. Still lower lows, lower highs. Descending channel, bearish trend line. The Percentage Method I try to teach points to this too, if 0.23, $0.34, $0.60, $.80 aren’t breached. I’m rather certain of this analysis.”

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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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