- Ripple analyst suggests that Ripple is primed for a parabolic bull run despite current price action.
- Ripple Forecast 2020 Will Ripple Ever Reclaim Its All-time High?
Ripple Forecast 2020 – In the cryptocurrency space, it’s not a secret that the price of Ripple XRP struggled more than other top cryptocurrencies on CoinMarketCap in 2019. Irrespective of this negative price action, Ripple has managed to build up notable momentum in 2020. Even if it is still far from its all-time high, some prominent cryptocurrency analysts have suggested, in the latest Ripple Price forecast 2020, that the price of XRP will soon be primed for a parabolic bull run that will allow it to retest its all-time high once again.
Ripple Price Forecast 2020 – How High Will XRP Go In 2020?
Since the beginning of 2020, the price of XRP has managed to maintain a stable ground around the $0.20 region. This is a far cry from the coins all-time high of about $3 but the stability has to be commended. Right now, the price of XRP is moving near a key resistance level that the bulls are struggling to hold. However, the technicals show that an upward rally is on the way. For now, the price is stagnant holding steady above $0.20.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the price of Ripple XRP was $0.237561. This means that it is up by 1.67% against the USD and down by 2.19% against the price of BTC. Yesterday, altcoins rallied against and Cardano ADA took the lead with a surge of over 16% within a few hours. XRP didn’t surge along with Cardano and other altcoins. It only recorded minimal gains. The trading volume was around $1,929,449,411 and the global market capitalization was $10,377,967,051. Even if Ripple XRP didn’t rise significantly against the USD, the token has been able to move above the lows of $0.22 from earlier in the week.
As Ripple is still underperforming the rest of the top coins in the market, Jacob Canfield, one of the most popular cryptocurrency analysts in the industry said that Ripple must hold the critical support it has right now if it is to prevent lower lows. In his words;
“Ripple is just getting painful to look at when many other majors and #bitcoin itself is breaking out. Needs to push up soon or we could see another low incoming.”
Ripple Forecast 2020 – Will Ripple Ever Reclaim Its All-time High?
If Ripple XRP is still not rising significantly against the USD and other cryptocurrencies, why are the analysts expecting a bull run? What factors can contribute to a surge in the price of Ripple XRP and take it to its all-time high? Yesterday, as reported in Ripple XRP News, TradingShot said there are certain similarities between Ripple’s current price action and the price action a few years ago. In his words;
“Well not much to be said here other than the notable similarities between the two periods: December 2014 – March 2017 vs December 2017 – March 2020.”