XRP Is Primed For Major Upward Surge After It Fights Off Bears According To Analysts

XRP price prediction

In Ripple news today, the XRP coin climbed higher in price after resisting bearish sentiments. For some crypto analysts, at least thus far, 2019 has not been a fantastic year for the ripple coin. The crypto market is reporting negative Year-To-Date (YTD) returns for XRP. Regardless, Ripple’s XRP has been involved in so many partnership deals with big companies and investors since the beginning of the year. Ripple added another partnership deal to its bag with its recent partnering with Moneygram, a money transfer service that operates globally. Although ripple has been heavily involved in technological advancements in the cryptocurrency community and had made several partnership deals, these improvements have not had significant effects on the price value of its XRP coin. On a short term basis, the coin has not yielded many gains. But the long term future of the coin seems not to be bleak.

From the observations on the coin’s daily chart, a bullish pattern was observed and the formation of a Falling Wedge pattern. The highs and lows of the wedge a gearing towards a meeting point. The wedge has extended for thirty-seven days.

In the formation of a Wedge pattern, another feature to be observed is the coinciding volume. In the coinciding volume, the volume of Ripple’s XRP rose sharply as soon as the price of the coin fell. According to analysts, this pattern suggests that a breakout leading to the coin showing bullish sentiments could occur, thereby changing the market trends of the XRP coin.

The value of Ripple’s XRP at press time was $0.2675. Over the last twenty-four hours, the coin has seen a 7.63% in price loss. Its support level is at $0.2379. The coin will not show bearish sentiments for the time being. Unlike other cryptocurrencies, Ripple’s XRP recorded a 1.21% increase in the previous week. Most major cryptos fell in prices.

Cryptocurrency News Today – Bitcoin Off-Balance, Ethereum Shows Improvements – Cryptocurrency Latest Update

In cryptocurrency latest update, bitcoin fell below the $10,000 level. The number one cryptocurrency faces a resistance close to $10,488 if it overcomes the previous resistance level. The $10,488 resistance level is the point at which the Bollinger band 4-hour middle and the Simple Moving Average 5-one-day meet. Above this resistance level is the upside target at $10,800. Here is the point of convergence of the Simple Moving Average 50-one-day and Fibonacci 61.8%. A crucial support of the number one crypto is at $9,090.

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.256
0.429%

Number one altcoin and the second-largest cryptocurrency by market capitalization, Ethereum has found a balance, with its support and resistance levels almost at equilibrium. There is support for the coin near $180. Another support is found downwards at $167.50. This support is where the PP 1m-S1 and the PP 1w-S1 converge. The resistance of the coin is at $190.70. This resistance is a juncture of lines where the Fibonacci 38.2% one-week, the SMA 501h, the SMA 200-15m, and the Fibonacci 61.8% one-day all converge.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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