- Ripple sees a rise in the price as the market gets bullish.
- Analyst believes that the cryptocurrency is likely to see double pump.
- Ripple finds strong support at the $0.24 mark.
- Ripple likely to repeat the 2017 pattern in the next 12 months.
The Ripple price line formed an ascending slope on the 25th of September as the cryptocurrency rose past the $0.245 mark and tested the resistance. Previously, the price travelled closed to the $0.22 support level.
1-Day Ripple price analysis
The price rose to a day’s high of $0.2453 before closing the day. The cryptocurrency was priced at $0.242 US Dollars on Bitstamp at the time of writing.
What’s next for Ripple?
The Trading View analyst Darius believes that the XRP price will eventually rise due to multiple price pumps in the long-term trade for 2021.
Per the analyst, the cryptocurrency is going to observe a similar trade pattern that it saw back in 2017, when the XRP price rose from $0.005 to $0.06, which was then followed by two more price pumps and a triangle trading pattern. The first price pump is expected to take place soon, and this price pump is going to take XRP to the $3.5 mark.
Per the chart above, there will subsequently be another price pump which will allow the cryptocurrency to rise to the $27 mark. After the completion of the second price pump, the XRP price is expected to enter a triangle pattern, while the cryptocurrency will accumulate under the strong $30 resistance for a while before it finally breaks above it and rises to greater highs.
Ripple tests $0.245 resistance
The Trading View analyst Solldy believes that the XRPUSD pair will rise towards the resistance that lies near $0.246.
Per the analysis, the cryptocurrency recently stepped out of an ascending parallel channel after which it slipped below the support-turned-resistance marked in red. After falling below this level, the price found another support near $0.22. Per the analyst, the cryptocurrency is expected to test the resistance that lies above the $0.246 mark.
On the 25th of September, the XRP price turned bullish and head towards the descending resistance. Currently, the cryptocurrency appears to be testing the resistance at $0.245. This idea has been completed.
What to expect from the XRP price?
The Trading View analyst Gallardo is of the opinion that the XRP price will rise towards the $0.8 mark after bouncing off an important support structure near the $0.22 level.
Per the analyst, the cryptocurrency broke above a large descending trend line in July. The price returned towards the support level where it formed an ascending trendline that is marked in yellow. The analyst believes that the price will bounce off this ascending trendline and gradually make its way towards the $0.7 level in the long-term trade. The analyst used the 1-week chart for the XRPUSD trading pair for this technical analysis.
Ripple breaks above ascending channel
The Trading View analyst Sina discussed that the XRP price will rise either break above or below the ascending parallel channel. The cryptocurrency moved above the ascending channel and rose towards a descending trendline marked in yellow on the chart.
The idea came to play on the 25th of September. Currently, the cryptocurrency has moved above the descending trendline found near the $0.241 level.
Disclaimer: The information provided is not a 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.
