TL;DR Breakdown
- XRP price prediction expects $0.21 support to hold
- Bulls and bears find an equilibrium
- Volatility remains sky-high
- XRP price hit by Binance.US delisting but resists price drop
- Technical indicators switch to ‘buy’ for the first time since the SEC lawsuit announcement
Unfortunately, the Binance.US delisting bombshell hindered XRP price climbing to $0.25 as predicted yesterday. However, what this news has revealed is that XRP price continues to resist the bears and begins to break influence away from Bitcoin (BTC) price.
XRP price has held strong to a support level of around $0.21 since yesterday – despite minor price corrections. This is a good sign for XRP price development as it seems to be breaking the trend of association with BTC price – something XRP holders have long-awaited. After the almost 30 percent price increase of yesterday, the world can only anticipate what the day ahead will hold for the future of XRP price.
At the time of writing, XRP price stands at $0.2155 – up almost six 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 of XRP price has seen XRP recover from what has been called the ‘third largest collapse of all time’ by Joshua Frank.
After two price demolishing bearish waves and over 50 percent drops in price, XRP is now seeing some recovery in spite of top exchanges in the U.S delisting the crypto.
Observing the graph above, we can see the beginning of a green bullish candle correlating with a Relative Strength Index (RSI) value of 30. Finding such support levels around $0.21, XRP can be considered oversold by the RSI indicator – perhaps the beginning of a steady stream now of XRP accumulation?
The Historical Volatility (HV) indicator doesn’t inform us significantly today except to articulate the sky-high level of volatility XRP continues to experience as we close 2020, and enter 2021. With a value of 356 HV, volatility has never been higher for XRP.
XRP price prediction: 1-Week chart overview
As with yesterdays XRP price prediction, the 1-Week chart overview shows that XRP price has retained the $0.21 support level found in July 2020 and begun to develop.
As RSI and HV indicators begin to adapt to the steading price of XRP, the weekly candle beginning tomorrow might just show us the first green weekly candle for XRP since early December 2020. Perhaps this new year holds hope yet for XRP price to regain what it has lost.
The RSI indicates a likely bullish move if price begins to pump while the HV shows a stabilizing plateau as we wait to see what XRP does next.
XRP price prediction: volatility chart overview
Observing the volatility chart, it is as of yet hard to say whether bullish momentum seen since yesterday will have a positive or an adverse affect on the XRP HV levels.
What can be confirmed is that XRP remains a volatile market and unpredictable as wave after wave of price-deteriorating news sweeps prices to and fro.
XRP price prediction conclusion: XRP to seek support level at $0.23
Within just the space of time of writing this XRP price prediction, the price began around $0.2155 and started sailing towards $0.23 as predicted.
The conclusion graph shows the price plummets of the Coinbase and Binance.US delistings, the natural price corrections seen, and the green arrows of recovering between.
What the day ahead will present is uncertain, but following the orange arrow path of recovery, XRP price may steadily see above $0.23 before the day is out.
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.
