Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move

Is XRP Price At  Possible? Crypto Analyst Predicts Stunning Move

Crypto news

Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move

Crypto Analyst Predicts Stunning Move: Crypto analyst Jaydee has outlined a scenario in which the XRP price could rise to as high as $20 at the peak of the next bull market. According to him, this price level is possible if certain factors are considered. 

What Will Facilitate XRP Price Rise To $20

Jaydee mentioned in an X (formerly Twitter) post that $20 is a “possible top” for XRP using the market cap as a marker. For this to happen, he also noted that there must be a structure break on the charts.

The analyst, however, is not holding his breath for that to happen. He further remarked that he was going to take profits once XRP was overbought on multiple higher timeframes. Interestingly, Jaydee had once shown his scepticism about XRP rising to between $10 and $15. As such, his latest analysis came as a surprise to some of his followers. 

Meanwhile, crypto analyst Egrag Crypto recently provided an analysis of XRP’s current state. He stated that things are looking bullish on the monthly time frame. He further hinted that a major pump was “brewing,” but there could be more move to the downside before that happens. This, he says, will be “enough to spook the weak hands.” 

READ ALSO:  Yemayá: La deidad de los mares y la maternidad

The analyst also gave an insight into how low XRP could drop in another X post. He noted that XRP was currently in a critical zone and that a weekly close below the ascending triangle’s edge could trigger a price downturn to $0.34. On the other hand, if XRP were to close above $0.75, Egg believes that would invalidate his current setup.  

In the meantime, the analyst sees these current dips in the XRP market as an opportunity to accumulate more tokens while preparing for the pump that will “roll in fast mode.”

XRP price chart from Tradingview.com (Crypto analyst)

Token price falls to $0.5 | Source: XRPUSD on Tradingview.com

The Bottom For XRP’s Current Trend

The current belief among different crypto analysts seems to be that XRP is likely to decline further before it makes any parabolic move to the upside. Crypto analyst Ali Martinez had previously predicted that XRP could drop to $0.34 if it failed to hold above the $0.55 support level (which it has failed to do). 

Now, crypto analyst XRP Shark is also echoing almost similar sentiments as he shared his belief that the price ranges between $.35 and $0.45 could be the bottom area for XRP’s move to the downside. Once the crypto token drops to that price range, he predicts that a “violent move to the upside” will follow. 

READ ALSO:  Predicting the Next Big Cryptocurrency: Which Crypto Will Boom in 2024?

As Egrag suggested, this move to the downside looks necessary to shake out weak hands before XRP experiences new highs. Crypto analyst Crypto Rover predicts that XRP will experience a “massive breakout” sometime in March. 

Featured image from Coinpedia, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.


#XRP #Price #Crypto #Analyst #Predicts #Stunning #Move

Source link

Continue Reading
Advertisement

More in Crypto news

To Top