Trader predicts $0.27 XRP price in June, as crypto exchanges move $17 million worth of XRP


Since the recent $9,000 level attained by Bitcoin, the third-largest digital currency, Ripple (XRP), has been showing good strength in maintaining its $0.21 mark. With XRP price currently sitting at $0.2157, XRPL Monitor bot recently spotted transactions involving vast amounts of the crypto.

Total amount transferred above $17 million

According to the data from the Ripple transactions tracker, the transfers made involved popular cryptocurrency exchanges, such as Bitstamp, Huobi, and others. It reportedly included 78 million of XRP, and the total amount transferred was a little above $17 million.

Two of the biggest transactions were conducted by Bitstamp exchange, with 12 million XRP on each transfer. Other transactions were on the average of six million Ripple each and were conducted by Huobi, BitGo, a crypto wallet provider, and others.

XRP price to reach $0.30 soon

Besides the XRP transfers, a trader at TradingView has said he believes that the XRP price will increase up to $0.27 to $0.30 within the short term. The trader also added that the digital currency would yield a 30 percent profit for the investors and traders, particularly from the sixth and seventh months of 2020.

This is an 8-hour chart of XRPUSD. The strong uptrend in progress. Previously, accumulated/reaccumulated and pushed higher. Currently undergoing another cycle of reaccumulation for a new push higher. TP bulls are 27 cents.

Possible value to reach 30 cents if…

In response to a question on whether XRP price can gain more boost amid the Bitcoin halving, the trader said yes. He added that it is possible for the value to reach 30 cents if XRP bulls are able to break resistance at $0.27. However, it might require more time.

The XRP crypto community is becoming bullish on this crypto, by saying that XRP can outperform the world’s most valuable cryptocurrency, Bitcoin. One can easily observe the base of the sentiments to be the 100 billion XRP maximum supply, compared to Bitcoin’s 21 million max supply.

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Ibiam Wayas

Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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