TL;DR Breakdown
- XRP price prediction expects to see support established above $0.23
- Bullish on the Day chart and Week chart
- Volatility still sky-high but peaked with bearish activity
- XRP price steadily increasing as it finds ascending support levels
- Continued decoupling away from Bitcoin price movement
XRP price continues to proceed steadily sideways but finds increasingly higher support levels despite the SEC lawsuit price plummet. Proceeding sideways is one characteristic of XRP price historically before seeing a bullish spike.
Following the XRP price plummet seen following the SEC lawsuit allegations, Tetragon seeks to sue Ripple as well now. Despite this additional lawsuit, XRP price has not dropped – instead, it has actually continued steadily upwards.
At the time of writing, the current price of XRP is $0.2309 – down almost one percent on the opening price of the day.
Use the oscillator below to check what role XRP might play in your portfolio.
XRP price prediction: 1-Day chart overview
The 1-Day chart overview portrays slow but steady growth for XRP price as it finds increasing support levels on its climb. If this pattern continues, we may yet see XRP price establish support above $0.24 rather than just $0.23 before the week is out.
The Historical Volatility (HV) indicator shows that bullish activity actually drops volatility at this time. This is highly suggestive that XRP price is aimed bullish and will only spike higher volatility if bearish activity occurs.
The Relative Strength Index (RSI) shows that XRP price is on the lower boundary of becoming oversold. With a value of 34.64 RSI, this indicator expects that XRP price should increase steadily and progress up towards around 50 RSI over the next two weeks.
XRP price prediction: 1-Week chart overview
Observing the 1-Week chart, we can see that the weekly candle remains green following the catastrophic fall in price through December 2020. Volume levels have been hindered due to fear of the recent SEC lawsuit against Ripple, but it is clear that XRP is set to turn bullish at any time.
The HV indicator shows a plateau in volatility at this time. As such, it is hard to determine how indicative this might be on whether bullish movement drops or increases volatility. On the other hand, the RSI indicator shows a value of 43.63 RSI and depicts a middle-ground for XRP price at this time – neither oversold nor overbought.
XRP price prediction: volatility chart overview
Observing the 1-Day volatility chart, we can see a steep recovery in XRP volatility levels following the spike caused by the price plummet.
This chart is expected to see some increase in volatility as bullish momentum returns to establish increasing support levels for XRP price. However, if the market turns bearish, we will likely see another sudden spike in volatility on this chart.
XRP price prediction conclusion: XRP price to find support level above $0.23 in next two days
This XRP price prediction concludes that XRP will find support above $0.23 in the next two days as it continues this ascending pattern of establishing support levels.
Observing the chart above, each blue line indicates a support level created as XRP price recovers from late December 2020 after the fall to below $0.18. As this pattern continues, we will likely see more sideways movement from afar, but support steadily increasing.
As always, trade safely, carefully, and only trade what you can afford to lose.
