Ripple is dominant proceedings as XRP/USD rips through resistances adding 94 percent in the last week of trading. Meanwhile, REN and Fantom prices are steady, soaking sell pressure as bulls anticipate gains.
XRP to $10? It may happen if the XRP/USD price action of the past three weeks is anything to go by. Legal hitches were cited as the primary concern in most Ripple long-term price predictions. Not anymore. Ripple is winning, and XRP is once more attractive.
Week-to-date, the XRP price is up a massive 94 percent versus the USD, and 74 percent against BTC and ETH. On the last day alone, trading volumes have exploded 84 percent.
Presently, the XRP price is trading at early 2018 levels at $1.92.
XRP/USD Price Prediction
XRP/USD is bullish, and buyers are in the driving seat.
From the weekly chart, the uptrend is getting started. Last week’s gains have been confirmed after this week’s supercharged rally.
Technically, since there is a blend of both demand and participation, XRP traders can buy the dips as long as prices trend above $1.1—the 1.618 Fibonacci extension level of the 2018-2021 trade range. Immediate targets should be $2.4.
Momentum is high as bars are banding along the upper BB in a bullish breakout pattern after three years of consolidation.
Republic Protocol (REN)
The crypto market is hot. Among other things, followers want to know whether REN prices will track the last four months’ performance if long-term REN price predictions lead.
From REN/USDT price charts, traders are hesitant. However, this is not to say the uptrend has been disrupted.
If anything, REN bulls are in control of proceedings, at least if REN technical analysis guides. On the last day, REN prices were stable, only falling four percent week-to-date.
At the same time, trading volumes slightly contracted by 13 percent, dropping to $86 million. The coin is relatively liquid, only mired by the current consolidation.
REN/USDT Price Forecast
With REN/USDT flat-lining and participation drooping, there could be an opportunity for aggressive traders to flow back and capitalize on this state of indecision.
First off, REN prices are within a bull flag. Therefore, loading the dips provided prices are above $0.90 is justified.
However, for the risk-averse, shaking off Apr 7 losses is paramount for trend definition and justification of longs from an Efforts-versus-Results perspective.
In that case, buyers would take control once buyers close above $1.1. If REN volumes are decent, prices may rally to $1.4 and later $1.8—Q1 2021 highs.
Fantom prices have been on a tear, quite literally. A 130X year-to-date concludes this. The question is: Are the numerous Fantom price forecasts convincing enough for investors to flow back? Candlestick arrangements in the daily chart are steady. Meanwhile, FTM/USDT prices may be attractive for value investors.
FTM prices are correcting, down seven percent week-to-date. However, volumes are still decent, pointing to participation across the board. According to trackers, FTM volumes are up 13 percent to $87 million on the last day.
FTM/USDT Price Analysis
Technically, FTM candlestick arrangements favor buyers. Despite sharp corrections over the last trading week, FTM/USDT prices are aligned with bulls of Q1 2021.
Notably, FTM prices are still consolidating inside Apr 5 bull bar—a net positive from a volume analysis perspective.
Ideally, aggressive traders can ramp up if FTM prices race above $0.50 and Apr 5 highs in buy trend continuation. On the other side of the divide, if prices slump below $0.40, FTM could slide back to $0.30 and March 2021 lows in bear trend confirmation, tracking late Feb losses. The $0.30 level coincides with the 61.8 percent Fibonacci retracement level of the Q1 2021 trade range.
Taking the conservative path, risk-averse traders can wait for a breakout trade. Gains above $0.55 accompanied by high trading volumes of early Feb could pump FTM/USDT prices back to $0.88—Feb 2021 highs.
Chart courtesy of Trading View
Disclaimer: Opinions expressed are not investment advice. Do your research.
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