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- Ripple price prediction still optimistic for $0.3 high after 2 days.
- Ripple price struggling to get past $0.259.
- Strong support drops to $0.253.
The Ripple price prediction by Vince Prince shows that the cryptocurrency will jump towards the $0.2595 mark soon. The price observed an uptrend right after closing the 25th of October and moved towards the $0.258 level.
1-Day Ripple price analysis
The cryptocurrency traded near the $0.253 mark through most of the 25th of October. Ripple was priced at $0.257 at the time of writing.
Ripple price prediction: Rise to $0.259 ahead?
Vince Prince showed the XRPUSD pair is in a major ascending channel as the cryptocurrency formed an overall ABC wave count. The price is expected to bounce back from the upper resistance soon.
The horizontal resistance lies at the $0.259 mark, and the price previously tested the ascending resistance of the channel on the 24th of October. The cryptocurrency appears to be heading towards the resistance level again, and the price is approaching multiple resistances near the $0.259 mark. This includes the horizontal Fibonacci resistance drawn in red on the chart above and the channel’s ascending resistance.
The price is expected to get rejected from the retest due to the high resistance that lies in the region, and then it will fall towards the lower boundary of the channel, which is placed at $0.254. The bearish momentum will be large enough for the cryptocurrency to fall towards $0.248, where a major ascending line lies. This region is important for Ripple to hold. The price was supported by the Exponential Moving Average shown in blood red.
What’s next for Ripple?
Another wave count formed on the 4H time frame for the cryptocurrency, and the analyst Moshin GW believes that the XRP price will rise towards the $0.30 level soon. The 50-Day and 100-Day Moving Averages is currently supporting the cryptocurrency.
The moving averages are expected to exhibit a golden cross, in which the smaller short-term moving average crosses above the long-term moving average. This is a bullish indicator, which means that the XRP price is about to increase soon. The Moving Average Convergence Divergence (MACD) line has moved close to the signal line, and it may cross above it, which is also a bullish confirmation. The histogram size has stopped increasing in the negative region.
Per the chart, if the trade becomes active, Ripple will test all the higher resistances and break upwards until the $0.3 mark which is the take profit for this trade.
The Trading View analyst Crypto Adam drew a 1-year descending trendline that Ripple has recently broken out of. The price is expected to rise towards the higher resistances.
The cryptocurrency has formed the descending trendline into a support level and now the price is expected to rise towards the $0.3 mark. The Relative Strength Index (RSI) appears neutral at 53.73. The breakout of the $0.3 mark will eventually lead Ripple towards the $0.4 to $0.5 range in the long-term, per the analyst.
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.
