It’s a big pleasure to make Ripple price prediction when the whole market is in the green zone. But will it continue to be so in a week? We’re here to answer this question and to take a look back at the reasons for this growth. Let’s start our XRP price prediction!
We always try to look into the past to see what the future holds. It’s the right strategy because history is playing an important role and the events are repeating itself. Last week didn’t bode well for Ripple, most analysts in their XRP price predictions agreed that the value would decline. We expected a similar scenario but left room for growth caused by good news. That is exactly what happened.
At first, the value of the coin pulled up to $0.25 due to the movement of Bitcoin. Then there was explosive news: BitMex announced the launch of perpetual swap XRP/USD contracts. Their launch took place on February 5, the value has already risen to $0.27, and then to $0.28. It is now located about this mark.
Technical indicator changed their mind
The situation with technical indicators has changed dramatically. Now moving averages indicate a need to buy while the oscillators are in the neutral position:
- Moving averages of 5 and 30 days indicate a positive change in the trend. If you scale the picture to 50 or 100 days, then it’s still will be negative.
- Most oscillators are in the neutral zone. Only Momentum indicates the need for sale, but the MACD level will say the opposite.
- Trading volume increased. The launch of new contracts has fueled community interest in the coin.
Anyway, technical indicators should be considered, but they don’t play a key role. Although it’s worth recognizing that in recent weeks the situation has become much better.
Different scenarios for XRP price
An unexpected reversal caught by surprise even the most avid followers of the fall. Now the percentage of analysts who rely on a decline in their Ripple price predictions has significantly decreased. Everyone believes in growth. Let's take a look at the most interesting ideas of analysts together.
Long Ripple price predictions
Now everyone making positive XRP price predictions but finding fascinating ideas is not so simple. Here is what we managed to find.
The authoritative trader and analyst DonAlt on February 4 in his Twitter published his XRP price prediction. He says the risk zone for the coin is between $0.25 and $0.30. This whole area belongs to the bears and as soon as the value manages to break out higher, real growth will begin.
TradingView user simomare believes in an unambiguous price increase. He based his XRP price prediction on the reverse head and shoulders figure. After that, according to the analyst, there can be only one scenario and this is growth. He also noted that the coin managed to break the trend line.
AnalysisAndSignals sees two scenarios, but both of them lead to a mark of $0.42. Options are as follows:
- The price will return to $0.25 for a short time, but then there will be a hard break of the trend line and a jump to $0.42.
- The price will gradually move over the trend line and will reach $0.40-0.42.
Short XRP price predictions
It’s worth mention that the number of people who are inclined to lower prices has decreased, but some analysts still adhere to this point of view.
Earlier, we already posted the Ripple price prediction of Alex_Clay. This time, the analyst believes that the price has reached several goals, but could not overcome the resistance and now we can expect a correction.
The user FiboSwanny believes that price rising with the decreasing value of Momentum will stop growth in the region of $0.31. After that, we should expect a decline in prices.
Good news brings good results
As we said earlier, Ripple received the main impetus after the announcement and launch of perpetual swap contracts on BitMex. The news received great publicity in large media and also influenced trading volumes.
Another positive development for Ripple was a partnership with Intermex, one of the leaders of the remittance industry in Latin America.
Our XRP price prediction
In our turn, we believe that it is too early to rejoice at Ripple’s successes. The price of the coin really ran into resistance at $0.28 and it’s unclear whether it will be possible to gain a foothold higher in the coming days. Our Ripple price prediction is as follows:
- There are risks of decline until the price will find a foothold above the $0.30 mark.
- The Bitcoin factor has not been canceled. The main cryptocurrency adds in value without noticeable pullbacks and if one will happen, it will affect the entire market.
- A positive charge may not be enough to gain a foothold above $0.30, in which case we should expect a decrease to $0.25.
- Some technical indicators, especially Momentum, don’t indicate an uptrend yet.
If you choose between the rise and fall of price, this time in the Ripple price prediction, we would choose the first option. Bitcoin is moving towards halving and will go up in price in the next few months, which means it will pull the entire crypto market after itself. But don’t deny the possibility of consolidation and correction.