The price XRP has been struggling to enter bullish territory against the USD and BTC. However, there’s a light at the end of the tunnel. The launch of xCurrent 4.0 is expected to force a rally. But the price of XRP remains at risk of more downsides. This will be avoided when the bulls push prices above $0.3000 and $0.3020.
24 hours ago, the price of XRP started a decent rally above $0.2980 and $0.3000. The pair traded above $0.3020 and the 100-hour SMA. However, the price of XRP faced strong resistance at $0.3040 and $0.3050. The bulls didn’t remain in action, which resulted in a downside move until it went below $0.3020. The price of XRP declined below $0.3000 and the 100-hour SMA.
XRP Price Prediction: Is the Price of XRP Set for a Breakout or Further Decline?
The decline got to the point that the price of XRP broke its previous swing low. Before going to trade at $0.2913 which is a new low. At the moment, prices have started correcting higher near $0.2980. It has started trading ahead of the 23.6% Fibonacci retracement level via the last drop from $0.3062 to $0.2913. Looking at the upside, hurdles are near $0.2980 and $0.3000. There’s a major bearish pattern formed near $0.3000 via the pair’s hourly chart. This pattern links with the 50% Fibonacci retracement position via the last drop from $0.3062 to $0.2913.
XRP Price Prediction: The Price of XRP is Set for a Fresh Rally Should $02980 and $0.3000 Be Broken
A break above $0.2980 and $0.3000 must occur for the price of XRP to initiate a fresh increase. After there’s a close above $0.3000, XRP’s price may climb higher to$0.3040 and $0.3050. On the other hand, should the XRP price fail near $0.2980 or $0.3000, a decline remains a possibility. The initial support is $0.2920, below which XRP’s price may break $0.2900.
From the chart, we can see that prices seem to follow a declining pattern under $0.3000. Hence, the bulls must gain bullish momentum above $0.3000 and $0.3020 if further losses have to be overcome. On the downside, XRP’s main support is at $0.2900. A downside break below $0.2900, will see prices test $0.2850.
XRP Price Prediction: The Price of XRP is Bullish in the Long-term
The price of XRP has been anticipating a huge market boost following the creation of Ripple’s xCurrent 4.0 which will integrate 200+ users into xRapid payment model. According to the report, xCurrent 4.0 has gone live. So, an increase in the price of XRP is likely to follow swiftly. Experts predict the price of XRP could move upwards in coming months before this quarter rounds up.
The price of XRP will face resistance at $0.32 and $0.34. By the next quarter’s end, the price of XRP should be $0.35 or more. XRP has also been predicted to reach $5 by year-end. The price of XRP will touch $5 by the end of this year. Potential investors are advised to take advantage of XRP’s current price because the long-term holding may give ten times the current value.