Ripple price prediction: XRP still on $0.3, analysts

Monday 26 October 2020, 2:41 PM AEST - 1 month ago

Ripple price prediction: XRP still on $0.3, analystsRipple price prediction: XRP still on $0.3, analysts 19

  • Ripple price prediction still optimistic for $0.3 high after 2 days.
  • Ripple price struggling to get past $0.259.
  • Strong support drops to $0.253.

The Ripple price prediction by Vince Prince shows that the cryptocurrency will jump towards the $0.2595 mark soon. The price observed an uptrend right after closing the 25th of October and moved towards the $0.258 level.

1-Day Ripple price analysis

The cryptocurrency traded near the $0.253 mark through most of the 25th of October. Ripple was priced at $0.257 at the time of writing.

Ripple price prediction: Rise to $0.259 ahead?

Vince Prince showed the XRPUSD pair is in a major ascending channel as the cryptocurrency formed an overall ABC wave count. The price is expected to bounce back from the upper resistance soon.

The horizontal resistance lies at the $0.259 mark, and the price previously tested the ascending resistance of the channel on the 24th of October. The cryptocurrency appears to be heading towards the resistance level again, and the price is approaching multiple resistances near the $0.259 mark. This includes the horizontal Fibonacci resistance drawn in red on the chart above and the channels ascending resistance.

The price is expected to get rejected from the retest due to the high resistance that lies in the region, and then it will fall towards the lower boundary of the channel, which is placed at $0.254. The bearish momentum will be large enough for the cryptocurrency to fall towards $0.248, where a major ascending line lies. This region is important for Ripple to hold. The price was supported by the Exponential Moving Average shown in blood red.

Whats next for Ripple?

Another wave count formed on the 4H time frame for the cryptocurrency, and the analyst Moshin GW believes that the XRP price will rise towards the $0.30 level soon. The 50-Day and 100-Day Moving Averages is currently supporting the cryptocurrency.

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