0
📈 Price Predictions
1244 views

XRP/USD Price Prediction — Trading on the Verge at $0.30: Where Is XRP Gonna Move Next?

  • Denys Serhiichuk
    📈 Price Predictions

    Ripple appears to be the most stable coin out of the top 5 against the Binance hack: Does it mean a possible bull run?


XRP/USD Price Prediction — Trading on the Verge at $0.30: Where Is XRP Gonna Move Next?

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.

Despite the fact that most coins have fallen against the news about the Binance hack, the price of Ripple has decreased only by 0.76% at the time of writing.

If a few weeks ago, information about new Ripple partnerships was a part of the news feed almost every day, the situation has changed now. However, that has not affected XRP’s rate. Furthermore, the quotes have moved closer to the ascending channel, and the coin rarely goes below $0.30. Surprisingly, the growth has happened against the declining number of active addresses, which is less than the total number of Bitcoin nodes.  

Summing up, Ripple adoption does not occur as fast as it is believed in the community.

XRP/USD chart by TradingView

Ripple forecasts have not changed so much from our previous price prediction. XRP tested the lower boundary of the yellow corridor and returned to the midline of the lateral range. The price of Ripple claims to be the most stable one in May.

👉MUST READ

[Updated] XRP WASN'T Snubbed by MAS. Ripple’s XRP Faces Yet Another Blow from Major Banking Institution

[Updated] XRP WASN'T Snubbed by MAS. Ripple’s XRP Faces Yet Another Blow from Major Banking Institution

However, we all know how the volatility of this asset can change dramatically during the day. Making the nearest forecast, the possible breakout may happen in the middle of May when bulls break the $0.31 resistance zone.

XRP/USD chart by TradingView

Analyzing the 30-minute chart, Ripple is struggling to move above $0.30 and never comes back to this zone again. One needs to mention that its efforts are justified as the price has remained stable even after the Binance hack. All in all, our previous Ripple forecast is coming true.

Taking into account the technical indicators, MACD is located in an uptrend, showing bullish tendencies.

If no more exchanges are hacked, or anything else negative happens, the quotes can reach $0.3050 by Sunday this week.

The price of XRP is trading at $0.3006 at the time of writing.

Cover image via 123rf.com
Subscribe to the official U.Today Telegram channel. Get news first!

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings