As Ripple (XRP) continues to see a surge when it comes to headlines, we are seeing a lot of investors piling into the cryptocurrency, but what do we know about the actual price prediction?
Ripple is the most successful cryptocurrency that has been around for the longest time. Ever since it first started trading in 2013, the price has been steadily rising and, after a long period of consolidation, it has finally started to move higher. The token is currently trading at $0.54, which is still a long way from touching the $1.10 Ripple is currently trading at, but will move in the near-term as the newsflow around the token continues to build.
Recs are not wagers. Recs are not predictions. Recs are NOT binary.Summary of the situation
- The XRP went up yesterday.
- The XRP jumped to $1.10.
- The next resistance is at $1.20.
Today’s price outlook for Ripple is bullish, as the market has pulled back from the $0.97 support level and is now gearing up for another move upwards. Therefore, we expect the XRP/USD to rise today and head towards the $1.20 level. Crypto-currency heat map. Source: Coin360 The overall market is trading in the green today, with market leader Bitcoin up 2.7% and Ethereum up 4%. Dogecoin is one of the top performers with 21% growth. XRP/USD opened at $1.01 after yesterday’s bearish close. Since then, the market has moved sideways as the bulls prepare for a further rise. Therefore, we expect XRP/USD to rise towards the next target of $1.20 in the next 24 hours.
Ripple price movement in the last 24 hours
The price of XRP/USD fluctuated in the range of $0.9793 to $1.04, indicating moderate volatility. The trading volume is down 23.68% and the total market value is $47.2 billion, putting the cryptocurrency in 7th place overall.
XRP/USD 4-hour chart – XRP is poised for a surge
On the 4 hour chart we can see that the XRP/USD is ready to go higher, as a new upper low was set last night. Four Hourly Chart XRP/USD. Source: TradingView The overall market is trading with bullish momentum, while the Ripple price is starting to move away from the bearish trend of recent weeks. Initial support was found at $0.80 and shortly thereafter there was a slight pullback to $1.10. Ripple then dropped to $0.80 support and established a low. An upward movement followed over the next 24 hours with a slightly higher high at $1.10. Ripple has now pulled back and found support at $0.97. If the support is not broken, we can expect XRP/USD to rise today and break through the next resistance at $1.20. This suggests that the bulls are gaining momentum and we can expect further upward pressure on the highs in the coming weeks.
Ripple Price Forecast: Supplement
The price outlook for Ripple is bullish, as the market set a slightly higher high yesterday and is currently making a pullback to new highs later today. Therefore, we expect XRP/USD to move higher today to break through the next resistance at $1.20. In anticipation of Ripple’s price hike, read our latest guides on Cardano, Zcash and Litecoin. Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.Since the beginning of the year, ripple has gained more than 80% in value. However, it also saw two important price declines in the past few weeks, with a 24% price drop from its December highs on the 29th, followed by a further 20% price loss from the 30th to the 31st. This drop was followed by a price rise that saw ripple gain 10% in its opening hours on the 1st, before a mid-morning decline that saw ripple lose another 31% of its value by the end of the day.. Read more about xrp price prediction 2020 and let us know what you think.
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