TL;DR Breakdown
- XRP price prediction expects the climb to $0.65 by the weekend
- Bullish momentum consistent with BTC pump
- Bears sparsely seen
- Volatility climbing, but not even a third as high as November
- Breakout to the upside continues
XRP has seen a few swings in price this month, but the 16th of December was the marked day for a complete breakout. As Bitcoin (BTC) price rises, XRP continues skyward.
Following the price prediction yesterday, the breakout to the upside was confirmed and continues still. Reaching lows of below $0.45 this week, traders have already seen an over 20 percent price increase in less than two days.
At the time of writing, XRP price is currently $0.568 – down 0.24 percent from the $0.569 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 shows us a steep incline as XRP price breaks out to the upside on the 16th of December.
Volume can be seen pouring into XRP as BTC price pumps beyond $23,000 and drags the bullish market with it. As selling pressure eases, bearish activity begins to decrease while the XRP steadily climbs back toward the $0.6 level.
The Relative Strength Index (RSI) portrays a picture of a steadily climbing trend to the upper RSI boundary. Observing late November on the RSI indicator shows just how high XRP price can go before selling pressure overwhelms the bulls. If this pattern is to be historically repeating, we should see XRP price escalate well beyond $0.65 in the week ahead.
XRP price prediction: 1-Week chart overview
Analysing the 1-Week chart overview, the latest wick has now turned green and bullish from it’s red counterpart just two days ago. This alone indicates a large-scale breakout to the upside in the works.
The volume level so far this week is incomparable to the highs of November, but if the trend pattern continues, we should see volume continue to pour in and XRP price skyrocket.
Observing the RSI in the 1-Week chart shows us that XRP may already be in the overbought state with little room to continue rising before a fall. Understandably a correction in XRP price should be expected once it peaks, but a further breakout to the upside seems likely after correction.
XRP price prediction: volatility overview
Volatility levels have been on the decline up until yesterday, the 16th of December 2020. As the BTC price pumped beyond $20,000, so too did XRP and its volatility levels.
Currently at a plateau as bears attempt to intervene in the XRP price pump, volatility is expected to continue increasing as the bulls continue their movement.
XRP price prediction: historical price overview
The historical chart shows a clear peak in 2018 in which XRP prices reached highs of almost $4 per token.
If this pattern is observed, it could be suggested that we are repeating this pattern and in the first wave seen in mid-2017 in preparation for the moon. Only time will tell if this plays out, but one thing remains clear – XRP price has the potential to astronomically increase.
XRP price prediction conclusion: rise to $0.65 expected by the weekend
To conclude this price prediction, it is clear that the breakout to the upside is here to stay as $0.58 is broken while writing.
As the charts are left in the dust by the current XRP price hike, the current price now is $0.599 and shows little sign of losing its momentum. Reaching $0.65 by the weekend is seeming closer with each hour.
As always, trade safely, carefully, and only trade what you can afford to lose.
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.
