Pratik

It is safe the say that the 2017 altcoin rally was single-handedly led and fueled by XRP when this token rose from under a cent to over $3.

Whenever XRP starts gaining momentum, it drains the liquidity of the whole crypto market, and everyone starts jumping in to benefit from the rally. XRP can consecutively gain a daily double digit percentage in profits as seen historically when it starts pumping.

Recently we saw XRP rise from $0.24 cents to $0.80 cents in a couple of weeks. That’s a gain of 400%!!!

Let us do an exclusive XRP price prediction today across different time frames.

XRP/USD 4 Hourly Candle – Price Prediction

XRP 4 hourly

On the 4-hour time frame, XRP is approaching a support area of $0.44. A bounce is expected from this area, with targets around $0.48 and $0.50. If the support of $0.44 cannot hold, this will be a bad sign for XRP. It could open the possibility of a potential big drop towards $0.40 and $0.30. There is no substantial support on a 4-hour time frame from $0.44 to $0.30.

XRP/USD Daily Candle

XRP Daily

The daily candle also suggests that there is no substantial support if the support of $0.44 breaks, which could lead to a drop towards $0.40 and $0.30. However, if we can bounce from the support zone of $0.44 and if this was the bottom after retrace from the recent high of $0.78, extended fibs open up much higher targets. On a higher time frame, we could start seeing a move in XRP price towards $0.56, $0.63, $0.68, $0.74, $0.82, and $0.92.

XRP/USD Weekly Candle

XRP Weekly

The weekly candle shows that XRP broke out of the major resistance at $0.44 and is now coming back to test it as support, which is a commonly expected scenario. If it can sustain above the support of $0.44, we can start targeting above $1.00, up to $1.35, on a much larger time frame.

Images courtesy of TradingView.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

 

(Excerpt) Read more Here | 2020-12-22 04:15:31
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