Price Analysis

XRP Marches Towards Next Target; Long Term Outlook Seems Bullish

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Admittedly, Ripple is noting a very slow, minimal, and a bit disappointing price growth lately, as compared to Ethereum and Bitcoin. Notably, BTC has again reclaimed the $9200 price range while XRP is struggling to stay above $0.20.

Ethereum and Bitcoin, both the topmost crypto coins, have recovered by more than 4% over the last 24 hours. Causing the coins to trade above $198 and $9300, respectively. All in all, XRP appears to be lagging behind these two coins if we consider a short-term perspective.

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The crypto market is gradually adapting to the damage control mode as it starts to witness a few stimulating price moves periodically. This is likely to infuse more liquidity in the space, gearing up the recovery.

Coming back to XRP, the coin had seen a sharp pullback just when it was approaching the middle of this month. The currency seems to be in a loop as it had a similar price move in the middle of April, while the infamous market crash of mid-March due to novel coronavirus pandemic still haunts the crypto believers.

XRP Predictions

Since when the XRP tested support level at $0.13, it has been forming a bullish trendline; the line may remain intact once it gains stability above $0.20. XRP may target the resistance level at $0.22, where it has just faced major turbulence this month.

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XRP/USD Chart By TradingView

XRP seems to be holding a support level at 50% fib level near $0.19. a full recovery can be estimated if the price reaches above $0.22; for now, the coin is still below the 61.80% fib level.

XRP News

Ripple had managed a stupendous recovery within the last couple of months as it reached above $0.23, with an increase of 76%. The XRP price is about to climb the 200-day EMA while the MACD chart is in the bearish zone, though with its MACD line on the upside. If you are looking to make investment or make good profit from XRP then Crypto Engine is the perfect platform for you that will enable you to make a massive profit from cryptocurrency.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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