XRP Price Prediction: Ripple Price Action Bores Investors

Summary:

Our XRP price prediction depends on the direction of the breakout from the $0.30-$0.40 price range. Currently, Ripple is trading sideways.

Not much has changed since our last XRP price prediction. The price appears to be range bound between $0.30 and $0.40 price levels. Ripple XRP has immensely underperformed as compared to other top cryptocurrencies due to the ongoing SEC Vs Ripple lawsuit. The 7^th biggest digital asset by market cap is currently trading 90% below its 2017 all-time high.

Crypto markets enjoyed a good relief rally after months of bearishness. The brutal price rejections of BTC and ETH from critical zones have increased the selling pressure once again. This has strengthened the view of the analysts who predicted new lows for the whole market.

At the time of writing, the XRP price is trading at $0.34. The price has kept trading sideways during Tuesday’s trading session, losing only 0.32% since the start of the week. Most investors are sitting on the sidelines, awaiting a breakout. You can buy Ripple by signing up on a top crypto exchange like Binance.

According to XRP news today, the project has launched On-Demand Liquidity in collaboration with the forex giant Travelex. This would enable Ripple to be used as a cross-border payment service in Brazil.

XRP Price Prediction

Technical analysis of the XRP USD price chart shows signs of a prolonged bearish accumulation phase. A breakout of the $0.30-0.4 range would trigger a massive move in that direction. Currently, the price is trading in the mid of the range, awaiting the next Bitcoin move. If BTC fails to break above Monday high, Ripple price will likely retest the range lows at $0.29-$0.30.

A daily closure below $0.30 would make XRP price prediction very bearish. In such a bearish scenario, the price could get some support from the $0.22-$0.25 level which has been a massive demand zone. On the other hand, a break above $0.40 could generate enough momentum for the bulls to target the 200-day MA that lies at $0.55. In both cases, a tight stop is advisable in order to avoid a fakeout.