XRP Price Prediction 2020 – Analyst Predicts A 300% Surge in the Price of XRP, Can XRP Move That High? April 27th, 2020

XRP2
  • XRP is Still Struggling to Test the $0.20 Level But Analyst Have Predicted A 300% Surge Eventually
  • Ripple is Making Progress But the Price Action of the XRP Token Isn’t Encouraging to Members of the Community 

Ripple News Today – Last year, XRP was the worst-performing of the top cryptocurrencies on CoinMarketCap. This year, the token started recovering slowly. However, over the last few weeks, XRP has gone back to its negative trend. Irrespective of how terrible XRP is trading, some analysts have predicted a 300% surge in the price of the token. Considering that the token has been stuck below the $0.20 level since February, this price prediction is way off. Even when the price of Bitcoin and other cryptocurrencies were surging a few days ago, XRP remained stuck in the $0.1900 level.

Ripple XRP Price Prediction 2020 – Is a 300% Surge Possible?

Right now, everyone knows that the $0.20 level is an extremely strong resistance level. If they can cross this resistance and convert it into a key support level, there is a high chance that the price of the token is going to gather enough bullish momentum to break another key resistance at $0.33 level. According to an XRP price analyst on Twitter has said that reclaiming the $0.33 level will pave the way for a 300% rise in price against the USD in a parabolic bull run like nothing we have seen so far. In his words;

“XRP/BTC and XRP/USD: While the chart just isn’t bullish. I do believe once it reclaims .33c it will likely do a 2-3x. It’s the last major LH in its 850-day downtrend from the macro perspective. We are at an interesting spot here on both pairs. The XRP/BTC pivot point shows.”

Another analyst noted that XRP started facing strong resistance after the price of Bitcoin rejected the $7,700 level. While Bitcoin has been known to affect the price action of the entire cryptocurrency market in the past, XRP tends to be affected only by the downtrend of Bitcoin. So, when the price of Bitcoin BTC is falling, XRP falls along with it, but when the cryptocurrency is rising along with the rest of the cryptocurrency market, XRP gains little to nothing.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.751-0.80%

As usual, Ripple has made a lot of progress since the beginning of the year. It has sealed several partnerships with financial institutions across the globe. Despite all the progress the parent company has made, the XRP token is still underperforming. At the time of writing, the price of the token was $0.197566. It is down by 1.13% against the USD and down by 0.31% against the price of Bitcoin. The trading volume over a 24 hour period is $1,843,003,746 and the market capitalization is $8,710,632,016.

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