XRP Price Prediction – XRP Might Show Signs of Increase Soon Despite Current Prices – August 20th, 2020

Ripple gets the first bank from Oman on its RippleNet platform
  • Ripple XRP Gains Momentum to Move Higher Against the USD
  • Ripple XRP is currently Trading Below the $0.3000 and Regaining this Level Appears Impossible Near-term

XRP Price Prediction – For the last 48 hours, the Ripple XRP token has been bearish against the USD. The price decline started right after the token moved below the all-important resistance at $0.3200. Since then, the XRP token has been correcting lower against the USD trending within the $0.2700 and $0.2800 range. Testing the support at the $0.2800 level was bad for XRP but many analysts believe that the token is still primed for a bull rally near-term. The token has formed strong support at this level but it has to move higher if it is to enter an extended bull run.

XRP Price Prediction – XRP Rises Back to the $0.2900 Level But the Resistance is Strong

At the time of writing the price of XRP was $0.291544. It was down by 0.97% against the USD and down by 0.60% against Bitcoin BTC. The trading volume over a 24 hour period was $1,945,359,906 and the market capitalization is $13,102,736,251. The MACD which was in the bearish territory yesterday is now moving to the bullish zone and the relative strength index is also moving above the 40 levels. There is key support at the $0.2820, $0.2800 and $0.2750 levels and resistances at $0.2905, $0.2920, and $0.3000.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$1.03-7.76%

Yesterday, the XRP token was having difficulty moving above $0.2850 level and it moved as low as the $0.2800 support. This morning, however, the bulls started gaining momentum allowing the token to move above the 100 hourly moving average. It broke above the key resistance at the $0.2900 level breaking the resistance at $0.2905 but it was unable to move above the $0.2920 level. Over the last three trading sessions, XRP has struggled against the USD. The current price might not be its best but the token is still well above the weekly low of $0.2790.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 

Right now, there are two possible directions for XRP. On the one hand, the CEO token will make progress if it is able to move above the resistance at $0.2920 and even higher at $0.3000 against the USD. The hurdle at the $0.3000 level is one of the most significant near-term. The 50% Fib retracement level from the $0.3274 level to the $0.2790 level is around $0.3030. The token must successfully close above the $0.3020 level if it is to move higher near-term. It might test the $0.3155 level again. On the other hand, if the bears keep pressing, the token will retest the $0.2800 support and even move as low as $0.2620 level.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.