Watching the twists and turns of crypto price action is, at times, thrilling. An enthralling artwork we keep on, quite literally being riveted to price charts. A case in point is the mechanics behind Ripple and XRP.
The Ripple price has been gyrating, swinging heavily, sometimes blowing technical analysts’ predictions away. If anything, the state of Ripple at spot rates is closely aligned to what proponents held on early this year.
The path to $2 and beyond can’t be dismissed and is highly probable.
From candlestick arrangements, Ripple buyers are already in the driving seat.
Trackers reveal that the XRP price is up a massive 90 percent month-to-date, adding 5.5X over the last year.
During this time, the coin’s valuation rapidly expanded. However, it has been displaced by DOGE. XRP has also failed to flip Ethereum (ETH), whose prices continue to defy gravity.
Will Ripple (XRP) Print a 10X to $14?
Still, Ripple buyers are upbeat, holding their heads higher, expecting another wave that will see XRP/USD rip higher.
That’s precisely the case since the XRP army at Trading View expects nothing but double digits in the next few months.
Although he doesn’t clutter his chart with tons of indicators, the technical analyst is convinced the XRP/USD price will soon break higher.
From his XRP/USD price chart capturing events in the daily chart, he says prices are currently waving the demand zone.
He highlights the zone between $0.90 and $1.45 as loading zones, areas where aggressive traders can take advantage of the market lull to add their bags as they await a higher repricing.
Eventually, the technical analyst explains, bulls will—from these zones–drive XRP prices 10X to $14.
Optimistic as traders may be, it is improbable that XRP/USD prices—in a single surge, expand to $14. Often, and as history shows, the rally to new valuation would be in waves.
XRP/USD Price Can Reach $10
That’s precisely why another trader, based on events in the weekly chart of the XRP/USD, thinks the next logical step for XRP is $10.
Mika_trades, on Trading View, points out Ripple’s use case and the potential of the coin. Specifically, he notes the widespread adoption of Ripple’s technologies and the “clean” price action.
After a three-year consolidation tracing back to Sep 2018, the XRP/USD prices broke above $0.90 and $1 in Q1 2021.
He is right.
Ripple has three primary solutions. One of them, On-Demand Liquidity (ODL), which uses XRP, has been adopted by payment processes considering how fast it settles transactions.
In 2020, a Ripple executive said they would aggressively market “ODL in 2021.”
Another catalyst the trader says is the results of the SEC lawsuit.
Ripple followers are closely monitoring this court case.
If it eventually favors Ripple with the regulator opting for settlement, it would trigger another wave higher towards his target of $10.
Ripple (XRP) is a “Sleeping Giant,” time for $5
On Trading View, tcr_thecoinrepublic also thinks the XRP is a “sleeping giant” that is on the course of soaring to $5 in 2021.
XRP/USD price action may suggest bears, but this isn’t dissuading for another wave higher to $5 in 2021. In the immediate term, he expects the XRP price to snap back to trend and race to around $1.95.
The rapidity of this uptrend could be heightened, especially if the XRP/USD price breaks above the EMA Ribbon in the 4-HR chart.
Already, the stochastic—a momentum indicator, has signal bulls, bottoming up from the oversold territory.
Disclaimer: Opinions expressed are not investment advice. Do your research.
Is Shentu Chain (CTK) a Good Investment?
Russian Lawmaker Suggests Nation Could Accept Bitcoin for Oil Payments
Loopring (LRC) Price Prediction 2022
Is API3 a Good Investment?
SuperRare (RARE) Price Prediction 2022
Price Analysis1 year ago
Sushiswap price adds 14% week-to-date, SUSHI rallies 40X in 7 Months
Learn2 years ago
Is Polkadot (DOT) A Good Investment?
Learn1 year ago
Yearn Finance Explained: A Simplified Guide to YFI
News2 years ago
How Will Bitcoin React if Either Trump or Biden Wins?
Price Analysis1 year ago
China FUD, Path back to $13k or $20k?
Learn2 years ago
Is Chainlink (LINK) A Good Investment?