- The Price of XRP is Set to Reach $0.30, What are the Chances of a Bull Run?
- XRP Price Has Been Moved Back to the $0.25 Level
This has been a strange year for Ripple’s cryptocurrency XRP. While Ripple has made many advances in the Blockchain sector by securing deals, partnerships, and launching new products, XRP has endured one of the worse periods in its history. The digital asset has experienced a number of ups and downs this year. It was even once named the worse performing coin of 2019.
Now it is changing course for the better after a poor run since September 24. It appears the price of XRP is set to reach the $0.30 area once again. If this occurs, should we call a bull run and expect a full recovery for the price of XRP? How long is it going to take the Ripple backed token to recover this time around?
XRP Price Has Been Moved Back to the $0.25 Level
The price of XRP has been restored to the $0.25 level despite the number of bearish tendencies, threatening to derail the coin’s positive performance. The price of XRP is striving to break the $0.30 area again (a major resistance point).
Does the XRP price have enough power for such action? What should XRP investors expect in the coming days? Analysts have discussed XRP price predictions and given an analysis to forecast the possibility of a serious upward movement for the coin.
XRP (XRP) Price Today – XRP / USD
XRP has broken the descending channel putting it in the accumulation area. But this rush rally ended quickly. The correction that followed led XRP price below the important support area, which is the same point as the accumulation zone. So are there any signs of a positive price action?
XRP broke the bottom of the descending channel. Luckily, XRP turned over the bad level before returning in the parallel channel and the accumulation zone.
RSI and MACD May Stay Positive
The MACD pattern and RSI have grown past the trend amidst big volatility. Their trends appear to be positive and they may remain positive. Additionally, the volume of trades seems to have come back. Hence, a strong indication of investor interest in the coin. XRP is now moving towards the upper point of the descending trend channel despite its sideways action.
Speculative investors can try to accumulate more XRP tokens on this level. They can expect that XRP price will break through all resistance points. In this case the coming resistance that the coin will face could be the falling pattern at $0.30.