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XRP Price Prediction

XRP Price: XRP’s Bullish Rally Will be Reversed if $0.252 is Not Taken Over

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XRP’s price movement during the past week has been sluggish. While most of the top digital currencies were exhibiting a significant amount of volatility in their market, XRP’s price did not make too much noise to ascertain a level of enthusiasm. The industry as a whole was now turning a bit bearish with the only Bitcoin holding a higher ground.

Amidst such turmoil, XRP is entering a defining moment in its price charts which may dictate the assets’ direction for the rest of the year. XRP had a market cap of $11.3 billion at press time, with a minor growth of 2% over the past 24-hours.

XRP’s hourly chart

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XRP’s hourly chart exhibited the performance of XRP over the past week and the strength of resistance at $0.254 was for everyone to witness. With XRP slowing reaching its current price point at $0.251, its current ascending channel pattern indicated that the price will possibly plummet in the future. Other bearish factors included the 50-day Moving Average(yellow line) that was moving above the candlesticks at present. With the immediate resistance placed at $0.252, A re-test at $0.222 is the relative outcome over the next few days.

Relative Strength or RSI suggested a brief patch of recovery but selling pressure continued to control its movement and before moving up, a higher probability had the indicator re-test the over-sold position in the charts. Awesome Oscillator or AO also suggested the depleting bullish momentum as the green candles started to fade in the charts.

XRP daily chart

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The weekly chart of XRP is where things are reaching a critical moment at the moment. Earlier last month, when the asset crossed above its 2-year downtrend, the XRP army exhibited a lot of exhilaration, and they believed that XRP will end up taking over the $1 mark soon. However, after 4-weeks of sustaining a place above the downtrend, the token dipped below the trendline once again.

At the moment, it is important for XRP to reverse the downtrend again if the asset wants to keep its bullish hopes up. Another week below the resistance at $0.254 will be devastating for its long-term trend and XRP could be looking at the bottom of the barrel, come to the end of 2020.

XRP Price Prediction: Overhead Resistance Continues to Restrict XRP Under $0.211

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The digital asset has been riding a bullish wave over the last few days. Bitcoin was leading the industry charge, and the major altcoins were following on its cue. XRP wasn’t really far behind in terms of registering growth, but the conundrum remains common in the charts. Specific resistance continues to be its trading dilemma as the 4th largest asset struggled to breach above the range.

At press time, XRP was valued at $0.205 with a market cap of $9.23 billion.

XRP 12-hour chart

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As observed in the charts, over the past two months, XRP has exhibited a bullish breakout after the price mediated within a descending channel for a period of time. The channel formed during the month of June had a longer time frame, whereas the channel pattern in July witnessed a quicker bullish breakout.

However, both times the price surge was shunted by a common overhead resistance. The 200-Moving Average(Orange Line) restricted XRP’s price hike again during the recent hike, as the price attained corrections at the time of writing.

The resistance of 200-MA is proving to be a strong barrier, stopping the price on four different occasions in the last few months. However, a consistent re-test is also a good sign for the token, as the asset is measuring its way to eventually breach past it. Now, considering that the asset is able to maintain its position between $0.211 and $0.200 over the next few days, XRP ‘s chances of crossing $0.211 will improve in mid-August. A drop below $0.200 puts the ball back in the bear’s court.

XRP 1-hour chart

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Although maintaining a position between $0.211 and $0.200 is appealing, it is important to note that the most active trading range for XRP has been between $0.195 and $0.200 since May. Hence, the higher bearish pressure is most likely to bring it down XRP to that range of $0.201 and $0.195.

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According to indicators, the Relative Strength Index or RSI remains on the favorable side of the bulls. If the buying pressure maintains a position above 50 index, there is a higher chance of consolidation above $0.200.

MACD remained bullish for XRP as the signal line(orange line) lagged behind the MACD(blue line) at the time of press.

XRP Price Prediction: XRP to Re-Test Price at $0.204 Amidst Bearish Momentum

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After registering a resounding surge on 6th and 8th July, XRP’s price has continued on a downward trajectory ever since in the price charts. Over the past 24-hours, its turnaround has been on the upside with a growth of 1.63 percent. However, the assets market cap continued to lag behind Tether as XRP witnessed a $8.66 billion evaluation in comparison to Tether’s $9.18 billion.

XRP had a trading volume of $880 million in the last 24-hours.

XRP 12-hour chart

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As mentioned above, XRP’s price hasn’t had the best performance over the past few days with the token losing up to 8.15 in valuation since 9th July. Between the timeline of 8th July to present, the asset has maintained a downward depreciation within the trendlines of a descending channel, which usually attains bullish implications in the charts. A drop below $0.204 and $0.193 isn’t exactly positive but after the drop on 16th July, the token performed formidable to return above the resistance of $0.194.

Over the past three days, the crypto has done well to sustain positioned above the aforementioned resistance, and it is currently eyeing a bullish breakout from its descending change pattern.

After a possible breakout upwards, it is likely possible for XRP to march towards $0.204 once again but a breach above is fairly unlikely at the moment.

The dropping trading volume alongside price over the past 10-day is a good sign since it improves the narrative of a trend reversal. For XRP, it has been a difficult period fo register a significant breach because of the overhead resistance provided by the 200-Moving Average.

As observed, the resistance has thwarted XRP’s movement thrice in the past few months, first on 29th April, then on 2nd June and now recently on 9th July.

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For the time being, Market indicators also remained strong bearish for the 4th largest digital asset. MACD line supported a bearish trend as the red line hovered over the blue line.

Whereas, Relative Strength Index or RSI suggested that neutrality has been attained between the buying and selling pressure. Therefore, even though a possible bullish move might be imminent, it might take place after a week and not immediately after a few hours.

XRP Price Prediction: XRP Eyes Breach of $0.211 But Remains Dependent on Bitcoin

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After dropping below $0.190 on June 18, XRP faced tremendous bearish pressure over the past 3 weeks. The fourth-largest digital asset was down to $0.170 at one time on 28 June, as the token was breached below multiple supports. However, over the last 30 hours, XRP has endured a significant 10.56 percent rally in the charts and was priced at $0.2044 at press time.

At the time of writing, XRP had a market cap of $9.02 billion with a trading volume of $1.72 billion over the past 24 hours.

XRP 1-day chart  

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According to the above chart, after registering a high of $0.23 on 29 April, after the May crash, XRP was on a consistent downtrend. With other major assets peaking in May and June, XRP continued to dwell on depreciation, but its price oscillated within the trendlines of a descending channel. Asset recorded strong lows at $0.23 and $0.21, with lower lows at $0.197, $0.185 and $0.175.

As a result, the asset has been inclining to a bullish breakout over the past few months, which occurred recently on 8 July. f The asset breached the descending channel pattern and the resistance formed at $0.185, $0.192, and $0.195 were all surpassed in the proceeding.

At the time of writing, XRP remained close to the $0.211 resistance, but the asset was faced with the long-term overhead resistance of the 200-moving average. The key bullish indicator shown by the token is the fact that the asset has risen to $0.204 above the Control Line (Red Line). If the asset is able to hold a positive above the red line for the next 24-48 hours, the potential for the asset to break the resistance is higher at $0.211.

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Market Indicators remain fairly bullish as well, as the MACD line surpassed the signal line in the charts. After giving away momentum to the sellers, RSI sustained a higher buying pressure as well, which may have prompted the recent rise in valuation.

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However, despite XRP’s rise, it can be speculated that XRP’s ascend may have been due to Bitcoin’s rise in the charts on 7th July. Bitcoin climbed up to to $9450 for a brief period which evidently revitalized the rest of the digital assets. As exhibited in the above correlation charts, the XRP-BTC index indicated a sharp rise during the same time XRP pumped.

Hence, a period of correction could be bestowed upon XRP if Bitcoin fails to hold its higher valuation range in the industry.

XRP Price Prediction: XRP May Break Above Elusive $0.20 Range by May 1st week

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It’s impossible to keep your eyes out of the cryptocurrency market at the moment. Over the past week, most of the assets in the industry have undergone volatile price swings. Over the 7-day period, all of the top ten assets were incurring more than 5% returns, and the 3rd ranked XRP was among the top-performing assets.

The token displayed a growth of 8.24% over the past seven days and is currently valued at $0.199. With a market capitalization of $8.8 billion and an active trading volume of $17.37 billion, XRP may be able to reach another rally in the coming weeks.

XRP 4-hour chart

 

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In order to analyze XRP’s price movement over the past few weeks, we will take XRP 4-hour into consideration.

It can be identified that since the start of April, XRP has been able to maintain consolidation over the support line of $0.178. During the start of the second week, it witnessed a major rally, and prices reached up to $0.20. However, corrections followed right after and the valuation went down to $0.178 in the charts.

Since then the price attained sideways consolidation between resistance $0.20 and $0.178.

However, over the past week, XRP had been dwelling under the $20 mark and, at the time of writing, indicated the formation of a bullish flag.  A bullish flag is indicative of an upcoming positive break and after testing $0.20 around three times in April, XRP should possibly breach $0.20 by the end of May 1st week.

According to the VPVR indicator, the Point-of-Control (Red Line) is at $0.185 which suggests that trading volume at this range is significant. Significant trading volume at a particular range highlights the strength of the support.

The Parabolic SAR also remained bullish for the token as the dotted lines appeared under the candles at the press time. However, MACD raised a major question mark.

The indicator facilitated close proximity with the signal line which exhibited the lack of a strong bullish trend. Although the trend is bullish at present, it might go under a trend reversal as well.

Conclusion 

Considering the collective market as a whole is riding a bullish rally, XRP should go on to breach $0.20 by May. However, the volatility side of the market indicated a trend reversal is also possible in the charts.