Almost a week has passed since our last Ripple price prediction. The entire market pleases holders with new peaks, and Bitcoin is the main factor. The biggest cryptocurrency conquered the mark of $9300 for the first time in 2020 and found a foothold above it. Will Ripple follow the example of its bigger brother? Let’s predict!
3 weeks have already passed since the XRP price is marking around $0.22-0.24. This is a real sideways and even a positive market sentiment doesn’t push the value higher. As we said in the previous Ripple price prediction, the coin is too weak for independent growth and there is enough negative in the media. They influence the lag of Ripple from the entire trend of the market.
The technical side of XRP
Will this week be a time of change for Ripple? Let’s first look at the technical indicators of the coin. At first glance, the situation has become even worse. On a 1W scale, Moving Averages dipped into a strong selling area. Already 10 out of the 15 available indicators recommend getting rid of XRP coins as soon as possible. On the other hand, the Oscillators are in a neutral zone, although Momentum is in the red negative zone.
The situation changes dramatically if you change the scale for 1 day. Oscillators still recommend selling but the Moving Averages strongly recommend buying! 14 out of 17 show positive values.
The last stop on this page is the monthly technical data. Everything is terrible here. General indicators based on Oscillators and Moving Averages recommend selling coins. Let’s take these data into account and move on to our XRP price prediction.
Opposite sides of Ripple price predictions
The opinion of most analysts has not changed. The people who supported coin in their XRP price predictions continue to do it. Followers of the fall also don’t intend to retreat. Let’s look at the most popular views of both camps.
Ripple price prediction: positive view
The first analyst Kelthogar has a very positive opinion. We want to say right away that we don’t share it. In his Ripple price prediction, he compared the coin to BTC, which continued to grow for 13 weeks from April to June 2019. Then the main cryptocurrency managed to reach $14 thousand in value. This mark corresponded to 0.61 Fibonacci level. Both graphs can be seen below.
Last time we shared the opinion of analyst David_Smith too. In this XRP pride prediction, he says that the value has shaped “Cup” with “Handle” under strong horizontal resistance. If a breakout takes place, further growth can be expected.
TrendFather in his Ripple price prediction considered two scenarios. To continue the growth, it’s necessary to break the strong resistance at $0.239 and gain a foothold above. In this case, further raise can be expected. If the price drops below $0.233, a drop may send Ripple to $0.226.
XRP price prediction: negative look
The user with the nickname PrimeXBT doesn’t see special reasons for growth, although he doesn’t deny this possibility. He identifies such key factors that need to be monitored:
- MACD has changed the mood to bearish.
- If MA50 1D, at which the price found support, will be broken we can expect a fall to $0.17.
- Growth is possible only if the 1D candle closes above the MA200 1D.
Analyst Moiseiev_Yurii believes that the price of Ripple will decline. He built his XRP price prediction on the fact that it’s trading in a Rising wedge near the resistance level. Fake breaking through of resistance will be a sign of a subsequent fall.
Silence on the news background
One of Ripple’s main concerns right now is the lack of news. They are very few in principle. There are small and insignificant references to the coin in the media but something global is not happening. The only thing they talk about is a possible IPO, but it’s still very far away. On the other hand, everyone was waiting for the discovery of Bakkt and prophesied the Bitcoin movement to ATH. But everything happened differently. So the Ripple price prediction after the launch of IPO is no more accurate than fortune telling on coffee grounds.
Our XRP price prediction
It’s our turn to tell an opinion about what is happening. We want to be bulls, but a bear costume looks more relevant in this situation. Let’s explain why:
- Weekly and monthly technical indicators look awful. 1D Moving Averages don’t change the situation, the price was pulled up by Bitcoin, which added $900 in a week.
- Community interest continues to cool. The news background is also weak and doesn’t lure crypto users to fill their pockets with XRP.
- The trend is bearish. There can be no talk about any trend reversal, perhaps IPO will change this situation.
Now Bitcoin is pulling the whole market after itself, and even keeps someone afloat. But gunpowder in a barrel may soon be over and during the consolidation time, Ripple will have to rely only on its own powers. Our XRP price prediction for this period is to place a stop loss or go short. Nothing terrible happens, this is just a stage in the life of a coin and after a protracted black streak, a growth phase will definitely come.