Ripple price prediction: XRP to ascend towards $0.5?

Saturday 21 November 2020, 3:31 PM AEST - 4 days ago

Ripple price prediction: XRP to ascend towards $0.5?Ripple price prediction: XRP to ascend towards $0.5? 19

  • XRP price expected to rise towards $0.5
  • Price continues to rise above $0.30
  • The altcoin moved over an ascending trend line

The Ripple price prediction by Orlin Myer suggests that the cryptocurrency will rise towards the $0.5 mark after a breakout. The cryptocurrency has formed an ascending slope over the second half of the days trade.

1-Day Ripple price analysis

Ripple price prediction chart by Trading View

The cryptocurrency has been bullish since the afternoon of the 19th of November. The price has been moving towards the $0.306 level, while in the evening the cryptocurrencys price spiked and rose to a days high of $0.30692. At the time of writing, the cryptocurrency was priced at $0.30464 US Dollars on Bitstamp.

During the first half of the day, the cryptocurrency was bearish. Per the chart above, the price observed a descending slope and hit a days low of $0.28404.

Whats next for Ripple?

Looking at the chart below, we can see that the cryptocurrency has been trending in a long descending channel on the 1W time frame. The analyst believes that the cryptocurrency will observe a breakout from here.

Ripple price prediction chart by Sealic

From 2014 to 2017, the cryptocurrency traded in a similar descending channel and the cryptocurrency eventually broke towards the upside during the 2017-2018 ascension. Gradually, the price entered this second descending channel that the coin currently trades in.

The altcoin is testing the upper boundary of the descending channel, and the analyst believes that very similar price action is taking place as before. A break of the long descending channel could possibly cause the altcoins market to become very bullish and result in a long run towards the upside.

The Momentum Divergence technical indic ...

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