TL;DR Breakdown
- Ripple price prediction has XRP over $0.50.
- Strong resistance lies at the $0.31 mark.
- Strong support lies at the $0.285 mark.
Ripple has shown resilience. After troubles at the Ripple Labs, Ripple had a sharp crash, but it now appears to be making progress. Ripple topped the day at $0.3153, while the 24-hour low for the cryptocurrency was $0.2551. At the time of writing, Ripple stands at $0.3065. Although the market sentiment for Ripple continues to be bearish, analysts expect that the stable coin is making some progress.
Out of the twenty-eight technical indicators, thirteen signal to sell with nine neutral and six signaling buy indications. Eight of the oscillators are neutral with 2 sell and 1 buy indication. The moving averages are mostly giving sell indication with 1 neutral indication and 5 buy indications.
Ripple price prediction: What to expect?
Analyst Ali Valatabar identified the XRP stable coin price was in a descending channel formation in his price prediction. Currently, the cryptocurrency is hovering at a support level of $0.2227. The analyst predicts that the support level will hold for the cryptocurrency. Per the analyst, Ripple will soon test the support level and successfully hold the support. This would encourage Ripple towards a break out from the descending channel formation.
If Ripple successfully breaks out of the formation, it can go as high as $0.40. However, it will most likely not maintain an upward trajectory, and the analyst expects another retesting of support. The support level at this point will be the upper boundary of the descending channel formation – previously resistance. He expects Ripple to be successful in this testing of support as well, and a sharp hike can be expected. If all goes well, he predicts an optimistic potential target of $0.50 from the cryptocurrency.
Analyst Nagihatoum expects Ripple to follow Gann’s lines in their Ripple price prediction. The analyst has identified various Gann levels. As per the analyst, Ripple is most likely following the Gann lines. However, the analyst is not expecting strong bearish momentum from the cryptocurrency. Per the analyst, Ripple has to close below the first support level of $0.2850 on the weekly timeframe to begin a strong bearish pressure. If it does, Ripple can test all the identified Gann lines, while testing major support levels. In an ominous prediction, the analyst identified a potential price of $0.06, which will also be a key support level. However, the analyst states that the cryptocurrency doesn’t need to test all these support levels and Gann lines.
Analyst Ehsan has identified a falling wedge formation in their Ripple price prediction. The bullish formation indicates strong upward pressures on the cryptocurrency. The analyst expects a break out from the formation to the upside. Per the analyst, Ripple’s potential target can be $0.65 after which it would stabilize at the level. Another analyst, Nak G3, also pointed out a very optimistic prediction for Ripple. Per the analyst, after some major fluctuations, Ripple could possibly go as high as $0.8 and even cross the $1 mark.
