Ripple price prediction – Explosive uptrend takes XRP/USD to $0.5850 – 0.6350 next?

Ripple price prediction Explosive uptrend takes XRPUSD to next
  • Wildest Ripple price prediction comes alive as XRP gains 95 percent
  • XRP/USD all set to touch fresh new annual highs after conquering major resistances
  • Extremely overbought technical indicators demand a decent pullback
Ripple price prediction – Explosive uptrend takes XRP/USD to $0.5850 – 0.6350 next? 1
Cryptocurrency heat map by Coin360

Lofty Ripple price prediction of $0.500 comes true – XRP charts new path

The XRP/USD has broken past several resistances and reach $0.5850. Amid a roaring session fuelled by aggressive buying, the bulls sent XRP price soaring to fresh annual highs. The parabolic move of the last two days has stunned even the sharpest XRP critics.

Even the boldest of Ripple price prediction may not have foretold the explosive move which spiked the price by almost 100 percent. Ripple has now outperformed Bitcoin and Ethereum to post some fantastic gains this year. Of course, some healthy correction is due for the pair to help the overheated technical indicators cool down. Expect the pair to return within the trading range of Bollinger Bands, where first support lies at $0.50 and next at $0.481.

XRP/USD 4-hour chart – Sharp move takes XRP to new yearly highs

Ripple price prediction – Explosive uptrend takes XRP/USD to $0.5850 – 0.6350 next? 2
Ripple price chart by TradingView

The XRP/USD is riding a whole new uptrend wave. Ripple bulls are relentlessly pushing the pair higher to fresh new 2020 highs. Just when you think XRP is about to cool down, a massive wave of liquidity and volume induces more buying. At the time of writing, XRP/USD is near $0.5791 and still treading upwards.

Ripple price prediction is challenging the upper target at $0.60, or the 1.618 Fibonacci extension. Furthermore, the resistance at $0.58 is crucial on the hourly timeframe. Bulls must end the day beyond this pivot to reach $0.60 next. Up ahead, the .786 bearish Fibonacci retracement at $0.65 will be a formidable point to cross.

Bulls have lined up strong defences near the $0.5 psychological level. Underneath, there is proper support at .382 Fibonacci retracement. As expected, most technical studies are displaying highly overbought readings. Both Stochastic RSI and RSI are profoundly red, and traders must exercise caution.

Ripple price movement in the last 24 hours – Relentless uptrend refuses to stop

When XRP/USD began the week on a mildly bullish tone, traders thought it would be optimistic. However, the uptrend has surprised even the most bullish Ripple price prediction analysts in the past few hours. Every pivot level has correctly acted as an accumulation point. The previous week was optimistic as the pair rose by 61 percent from $0.2670 to $0.4980.

The aggressive buying helped take down 23.6 percent Fib of $0.3130 swiftly. Next, the resistance at $0.4392 was demolished in a few hours. Most importantly, the vast 39.9 percent gain on Saturday turned Ripple price prediction stratospheric.

The roaring ‘alt season’ means that Ripple price prediction is getting good support fundamentally. Currently, XRP/USD has achieved another milestone of $0.5850 with no end to the uptrend within sight. The XRP price is barely poking out of the Bollinger Bands, which means there is still room for a mild uptrend. Any extended crypto rally will help the pair print new annual highs before any meaningful correction takes place.

Remarkable XRP bull run demolishes key resistances

The XRP bulls displayed amazing buying action with massive volumes taking XRP/USD into a whole new territory. The remarkable uptrend has helped the pair climb from $0,28 to a fresh 2020 high of $0.5799 today. The RSI, MACD, and Bollinger Bands are all in the overbought realm. It is barely trading within the Bollinger Bands and looks set to tone down.

The uptrend took real shape on Saturday when the price crossed $0.41 level. Initially, XRP/USD price settled around $0.48 and consolidated within a narrow range of $0.45 to $0.49. The stagnation period helped the bulls undertake further accumulation to target $0.50 next. From here on, it took a parabolic uptrend that saw the pair gain 23 percent to touch $0.556.

Ripple price prediction conclusion – It is time to look at $0.6350

As Ripple price prediction is now firmly entrenched in the bullish zone, it is time that XRP fans look at higher prices. Since the price is closing in on the $0.5860 mark, traders should start studying the $0.6345 resistance next. The pair will pullback near this resistance only if it manages to cross the psychological resistance at $0.6000.

In case of a minor correction, initial support lies at $0.4042, where the 38.2 percent Fibonacci retracement lies. The explosive uptrend has left many support and resistance levels untested. The price swiftly went past many pivot points that have created minor gaps in price action. These can be tested if the pair stagnates or corrects for an extended period.

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.

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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