Ripple (XRP) price saw the year-to-date high on 29th of September 2018 at the $0.586 mark, however, the Ripple price has never been able to return to the point.
Ripple (XRP) price did manage to reach a new high during the past two weeks at $0.51 mark on 22nd June 2019, right before the frantic Bitcoin price rallies starting at 26th of June 2019. However, XRP just couldn’t find enough support to maintain that price level.
Interestingly enough, Ripple’s year-to-date low point was also right before the year-to-date high. Ripple price fell as far down to $0.256 on 17th of September 2018. However, it is highly unlikely that the price would fall that far down this year, therefore, further wait to buy Ripple can prove futile.
On the other hand, analysts are predicting that the Ripple price is forming a bullish trend right after the current lows and the price is expected to hit $0.45 mark with ease.
As it is evident from the chart that despite the prices are going down, the support line touched on both June 27 and 30. However, the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) show an upward trend forming a bullish divergence.
The price chart above displays that the Ripple price is priming to hit the $0.45 mark and would find heavy resistance pass that point.
Another analysis, however, predicts that following the expected bullish rally Ripple XRP price can hit as far high as $0.65 mark and if it manages to break the resistance at that point, a new high of $0.975 would be the new target.
The chart analysis shows that as an ascending triangle pattern is in the process of formation, such a formation has a very high chance of breaking out on the bullish side.