Ripple price prediction: XRP towards $0.30, analyst

Friday 22 January 2021, 5:15 AM AEST - 1 month ago

Ripple price prediction XRP towards $0.30, analystRipple price prediction: XRP towards $0.30, analyst 19

TL;DR Breakdown

  • Ripple price prediction expects a rise towards $0.30
  • Strong resistance lies at the $0.30 mark.
  • Strong support lies at the $0.275 mark.
  • Former Ripple advisor may join Comptroller of Currency office.

Ripple (XRP) continues to be stagnant after the December 2020 fall. The market outlook continues to be bearish while the stablecoin is unable to break past the resistance levels. The 24-hour high for the cryptocurrency was at $0.3096, while the 24-hour low was at $0.2749. At the time of writing, Ripple stands at $0.2782. During the past 24 hours, XRP tested the $0.30 price level twice but failed and fell to lower price levels after each failed try.

Ripple price chart by Trading view

Out of the 28 technical indicators, 16 stand at a sell signal, while eight neutral indications and four sell indications were observed. Eight of the total oscillators are neutral with two sell indications and one buy indication. Of a total of 17, 13 of the moving averages are giving out a signal of sell with four indications of buy and zero neutral indications.

Ripple price prediction: What to expect?

Analyst Vince Prince has pointed out a downward channel formation in his Ripple price prediction. The analyst believes Ripple has also formed a coherent wave count and has completed wave A and B. Ripple is currently developing wave C of the formation. The wave count accounts for the strong volatility in the Ripple price action. The downward channel formation indicates the bearish pressures that have the cryptocurrency in its grasp.

At the final wave, the analyst expects Ripple to encounter a back-up cluster of various exponential moving average (EMA) support levels along with the support of the lower b ...

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