XRP Price Prediction 2020 – Watch Out for These Two Bullish Reversal Levels for XRP as Token Gathers Momentum – September 1st, 2020

XRP2
  • XRP Might be Primed for bullish Reversal as Analysts Pick Out Key Recovery Levels
  • Ripple XRP Continues to Gather Momentum Moving Above the $0.2900 Level as it Sets Sights on $0.3000

XRP Price Prediction – XRP has started gaining bullish momentum after days of bearish pressure against the USD and Bitcoin BTC. The token is now trading well over the $0.2900 level thanks to its break above the $0.2850 support. This might not be a major bullish recovery but it is still great since the token fell to the $0.2500 support last weekend. The price of the token is moving in correlation to the price of Bitcoin BTC as is the rest of the cryptocurrency market. This is why Bitcoin’s plunge to the $11,100 level spelled doom for XRP. The token’s current rise is commendable but analysts believe that it is just the beginning. So, how high will XRP go?

XRP Price Prediction 2020 – Ripple Price Prediction 2020 

At the time of writing, the price of the XRP token was $0.290524. This means that it was up by 2.82% against the USD and up by 1.42% against Bitcoin BTC. The trading volume over a 24 hour period was $1,349,581,653 and the market capitalization was $13,072,087,084. The surge above the $0.2850 level was the beginning of greatness for XRP, at least brief greatness. It is the rise against this level that has led to the current XRP price prediction on NewsBTC that places the token at higher highs near-term. Right now, there is key support for XRP at the $0.24 and $$0.21 level. These levels are marked with incredibly bullish momentum. So, even if the token falls, it will bounce back to higher highs if it reaches this mark.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.436
-9.42%

XRP might be hovering above the $0.2900 level but we cannot confirm a bullish reversal until it has successfully crossed the $0.30 level and made its way to the strong resistance at $0.32. As long as rejections continue to occur at the $0.300 level, there is no way to determine when XRP will fully recover. Most XRP price analysts have said that the price of XRP is now moving in a strong correlation with the price of Bitcoin BTC. So, irrespective of what is happening now, XRP isn’t likely to recover significantly if Bitcoin BTC doesn’t break the existing barriers soon. At the time of writing, Bitcoin was trading at $11,947.69 up by 2.83% with a trading volume of $26,838,242,257 and a market capitalization of $220,752,544,931.

According to the analyst, things are now bearish for BTC;

“The BTC Pair does look [bad] unless it manages to reclaim .000024 on the daily/weekly. For now, the daily looks as though it’s just a bearish retest. XRP: Well, we’ve been saying these green zones for weeks now and we’ve got quite close. Patience pays. I think we’ll see some more consolidation before the continuation of XRP. But yes, paying some attention.”

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.

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