Events on the cryptocurrency market force us to release a new XRP price prediction. Welcome to the correction! All analysts competed in lifting the bar for the Ripple price a week ago. Now Ripple price predictions look the other way around. There is no global news either, so XRP will have to huddle in the red zone with the whole market.
Bears won this battle!
Recoilless growth is only possible in a dream. The price of the main cryptocurrency and the entire market has been growing rapidly, with almost no corrections and consolidations over the past month and a half.
Of course, it was the fall of Bitcoin that pulled the market to the bottom. In theory, Ripple had a chance to slow down the price drop if the coin was supported by powerful news. But this did not happen and the value quickly dropped from $0.33 to $0.23. The price ranges from $0.23-0.24 at the time of writing.
Technical data inconsistency
We would like to say that the technical data plays a crucial role in the XRP price prediction, but this will not be entirely true. In our latest Ripple price prediction, which was published two weeks ago, we talked about an excellent technical picture. The values of moving averages and oscillators have changed dramatically, as soon as the value began to decline.
Now the technical indicators are as follows:
- 1D. Moving averages (5, 10, 20, 30, 50, 100, 200) indicates a need to sell. Nevertheless, the oscillators signal the need for a buy.
- 1W. The situation is no different from 1D. Absolutely all moving averages tend to sell. Three oscillators (MACD −0.00902, Momentum 0.03652, Aves 0.00891) recommend buying a coin.
- 1M. Even oscillators are not on the Ripple’s side on a monthly scale. All available indicators recommend getting rid of the coin.
Positive and negative XRP price predictions
There is disagreement in the analyst community. We can say that the forces are divided 50/50. We, as always, have analyzed the most interesting opinions from the TradingView website and are ready to share them with you.
The positive side of a coin
XRP analysis from Dangermousebanana opens positive Ripple price predictions. He hopes that current performance is the bottom of the coin value. The user claims that we broke out of the parabola and successfully tested the line of a long-term downtrend. Now the previous resistance level has become support. He also notes that this level also corresponds to the Fibonacci retracement of 0.61 of recent parabolic movements, which led us from the bottom to the peak of the parabola. The analyst believes that the price should quickly return to growth.
A user with the nickname FutureBlockchain made a detailed XRP price prediction. First of all, he noted that the coin found support in the area of $0.22-0.23, where the medium-term line of the uptrend (which began on December 18, when we hit the bottom at $0.172) met with horizontal support. The analyst claims that this area has a lot of activity. The price of the coin managed to rise to an extra mark of $0.248 or directly above the Fibb line of 61.80 inside the daily trading session. There was an attempt to break through this support.
His XRP price prediction indicates the danger of falling below $0.23. Also, the coin needs to gain a foothold above the $0.25 mark. Then we can expect further upward movement. However, the overall market sentiment will be of great importance.
The negative side of a coin
ArShevelev substantiated his short Ripple price prediction by forming the Head and Shoulders (H&S). The value has reached the main goals and there is a chance of falling to the levels of $0.2-0.188 to achieve all goals. We can speak of a reversal of movement only after reaching these marks.
DavyDelibasic voiced the original idea in his XRP price prediction. He has drawn a bubble support curve on the chart. The price should reach the first support at the level of $0.12, and then $0.08 according to his logic. We should expect a reversal and an uptrend only after this.
Our XRP price prediction
This time we decided to ignore the news background because there was no special news. Let’s go straight to our Ripple price prediction for the coming week.
We believe that the news will not help in the current situation. The entire market is currently undergoing a consolidation phase. This is normal and you should not panic. We expected the correction to start after reaching the value of $0.35, but it happened a little earlier.
A $0.23 zone plays an important supporting role. We can expect a decrease to $0.21 if the price goes below. The probability of dropping below $0.20 is very small. Most likely, growth will begin within a week. We recommend using the current situation to buy crypto assets.