XRP Price Can Either Go Bullish or Bearish at its Current Position, Analyst Says

XRP price seems to have come out of the bearish trend. However, the worst isn’t over yet. The coin may need more effort to break completely. One crypto analyst did a comparison of the analytical charts from December 2017 and the current charts. Then hinted at XRP price going bullish or bearish. While another digital asset commentator is certain about XRP price hitting $7 but the July 1 this year. In any case, XRP price has just passed $0.4. The top cryptocurrencies are getting ready to soar after Bitcoin price broke the $8,000 resistance level. Now, as stated above one crypto analyst has envisaged that XRP price is at a place “where it can either go well or perform badly”.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.321544
1.12%

Cryptocurrency Market Update: The Matter of Market Stagnation Isn’t Familiar to XRP Alone

The issue of price stagnation hasn’t been limited to XRP alone. In fact, nearly all the top digital assets including Bitcoin have already experienced sluggish growth in price this year.

However, Litecoin price has recently shown indispensable upward action, as it continues to break resistance positions and surge towards $150.

Several crypto analysts had initially predicted bullish price action for XRP. One XRP proponent and analyst is still resolute about his stance on XRP price. He continues to speak positively about the digital currency hitting $7 by July 1 this year.

The basis for this forecast remains to be seen. Crypto commentators like David Gokhshtein have weighed in on the above prediction. He has been branded crazy for forecasting an outrageous price. Considering the fact that it will occur in a very short interval.

However, when you consider the high volatility of cryptocurrencies, you’ll come to understand that anything is possible in the digital asset market. Bitcoin’s obvious dominance can also be a consideration before making such a bullish prediction.

Cryptocurrency Market Update: Crypto Analyst Peter J. Zacharias‏ Claims XRP Price Could Either Rise or Drop

Cryptocurrency analyst, Peter J. Zacharias, who is also an investor has shared his thought recently regarding the area where Ripple’s XRP price is heading towards.

Zacharias stated that XRP price is now at the point where anything can happen. Either the best or worst-case scenario. He deduced this idea from the 4-hour chart of the pair from 2017 and the current charts.

The charts highlighting trading for the XRP/USD pair represents XRP price movement from December 2017 and the current charts. The analyst collaged both charts, hinting that this could be a repeat of history.

We are now at a point where things can go well or bad for XRP price he said. Whether this prediction is true or not is for time to tell. For now, despite the consultation of historical data, it is purely speculation.

Cryptocurrency Market Update: XRP’s Current Situation

The crypto market is presently in the green. Bitcoin is presently heading above $8,200. Every crypto pundit understands that the welfare of BTC typically determines the wellbeing of altcoins.

As of press time, XRP price is trading at $0.4, having gained 3.02% in the past 24 hours. In the event that this growth rate is maintained, there is a tendency for XRP price to break further resistant levels that have proved challenging.

 

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

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