TL;DR Breakdown
- Ripple price prediction expects a slow upward trajectory.
- XRP to reach the $0.60 mark if support level holds.
- Current market activity shows little deviation.
The Ripple price prediction by Vince Prince has shown that the cryptocurrency will hit the $0.45 mark next after descending in a down-channel. The price rests between the $0.56 to $0.58 range after testing the $0.6 resistance.
1-Day Ripple price analysis
The XRP price peaked at the $0.60 mark just before closing on the 9th of December. The price gradually stepped down and hit the $0.56 to $0.58 range, where it varied through the rest of the 24-hour trade. At the time of writing, the cryptocurrency was observed at the $0.574 level. The lowest that the price fell down to during the 24-hour trade was the $0.539 mark.
The cryptocurrency has seen its share of ups and downs over the past few weeks, with the crypto market seeing a major ascension at the first start of the month when Bitcoin hit its new all-time high just short of the $20000 mark.
Ripple price prediction: Next target at $0.45?
Vince Prince drew another one of their descending channels for the XRPUSD pair, where the price appears to be falling from the end of November in a wave-like movement.
The analyst expects this wave pattern to continue as the price descends in the down-channel. The next target for Ripple lies at $0.4585, as marked by the crypto analyst. The price is to hit the top of the channel and turn bearish until it bounces off the bottom of the channel near the lower support level, at $0.45. The bounce-off is expected to cause the altcoin to ascend across the channel, following a final breakout setup towards the upside. This breakout will let Ripple reach across the $0.62 mark.
What’s next for the XRP price?
YM Group’s opinion of the XRP price is similar to that for the ETHUSD pair. The analyst believes that the price will hit the $0.65 level after moving into a long position from the bottom of the trade.
The cryptocurrency has been trading above the support level found between the $0.5 and $0.55 levels from the 23rd of November. The price has tested the $0.65 mark at several instances, and the analyst believes that the XRP price will see another move towards the $0.65 resistance from here. The analyst added that the cryptocurrency is ready to go higher because the price started to grow after the support zone was tested. Per the analyst, the price can see more growth from here and reach the resistance zone.
What to expect from Ripple?
A falling triangle pattern can be seen on the chart below. The analyst has highlighted a descending channel inside the bigger triangle pattern. The price is trading above the midline and near the upper boundary, and it is expected to continue trading along the upper descending trend line of the pattern.
The heavy psychological resistance near the $0.6 mark was tested by the XRPUSD pair on the 10th of December. The price might break towards the upside once the cryptocurrency proceeds towards the end of the triangle.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
