XRP Heads for $0.3100, Can it Maintain the Bullish Momentum?

XRP is one digital currency that braved the previous crypto winter despite being badly hit. At the start of the year, the price of XRP was bullish, but the momentum was lost shortly. The coin bottomed to $0.28 in January 2019, but it got a boost during the brief crypto bull run of April 2. According to Coin market cap, the total market cap of XRP was14,924,962,807 USD during the brief bull run. It was also valued for 0.357538 USD. Presently, the market cap has lost 13.93 percent of its value since the boom last month. Can the XRP Nasdaq listing and other meaningful partnerships turn things around for XRP?

XRP (XRP) Price Today – XRP / USD

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XRP Nasdaq – XRP Price Prediction 2019 – XRP Price Forecast

The price of XRP got to a new weekly low of $0.2918. this was short-lived as it recovered against the dollar. XRP price surged higher, breaking the resistance levels of $0.2985 and $0.3000. Also, the coin saw a break above the main bearish line on the hourly chart. Currently, the XRP/USD pair is facing strong resistance at the $0.3040 and $0.3050 levels. After breaking the $0.3000 level, the price of XRP is heading for $0.3100.

24 hours ago, the market saw an increased bearish pressure. The pair traded below the main support level of $0.3000 while settling below the 100 hourly SMA. This point made it possible for more losses before the price finally surpassed the support level of $0.2950. analysts believe that XRP price is seeing gains because of Bitcoin’s surge above the $5,850 level.

When the price rose, there was a break above the main bearish trend line on the hourly chart of the pair. The charts also show a break above the 50% Fib retracement level.

There is a connecting bearish trend line as well with strong resistance near $0.3040. if the price of XRP manages to break above the resistance levels of $0.3040 and $0.3050, then there may be an opportunity to rise higher. After which the next key resistance will be close to the $0.3080 and $0.3100 levels.

From the chart, it is clear that the price of XRP recovered after reaching a new weekly low. Now the price has found a spot above $0.3000. in the event of a downside correction, the price of XRP may settle near $0.3000 and the 100 hourly SMA. If it declines further, then it may return to the bearish zone at $0.2920.

XRP Price Prediction 2019 – XRP Nasdaq – What is the Long-Term Forecast of XRP?

XRP Nasdaq listing and the numerous partnerships of Ripple, its parent company have proven to be instrumental to the price surge. As for media coverage, the coin is also doing very well. Recently, XRP got mentioned in a French television show recently and this has been considered a great win for the crypto community in general. More media coverage leads to more acceptance and adoption. This can only mean that the price of XRP will surge massively.

Analysts predict that the price of XRP will rise to $0.32 and face a major resistance. It will also face another two resistances at $0.37 and $0.42. Despite this, the price of XRP is bullish in the medium term and long term. This means now may be a good time to stock up. By the year’s end, analysts predict that the value of XRP will reach $1.5 and surge to $10 in 2020.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.


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