Posted 3 years ago | by Ben Armstrong
Bullish XRP Price Prediction
Altcoins have struggled to find support over the last several months even though the Bitcoin price has dramatically gone up. One of the coins that has been hit the hardest is XRP. After over a year of anticipation, a Coinbase listing was not even enough to see the XRP price rise. One analyst believes the bearish action for the coin by Ripple labs could be over and has now made a positive XRP price prediction.
The current XRP price relative to Bitcoin is hovering around 2700 satoshis. However, Twitter user @Pentoshi believes than a realistic XRP price prediction in the near term could be an incredible 4,000 satoshis per coin.
$XRP I'm ready to stop being bearish. Bias has changed. Notes on chart. Historical level dating back to 2014 on Polo chart. Sellers losing momentum. Targeting 4k. Fireworks incoming ??? pic.twitter.com/0vTe43tXeu
— Pentoshi (@Pentoshiswallet) August 29, 2019
XRP trading at 4,000 satoshis very soon seems improbable at first glance, but the historical chart of XRP shows that this XRP price prediction may not be far off.
— Altcoin Sherpa (@AltcoinSherpa) August 29, 2019
Bearish XRP Price Prediction Still Possible
The chart reveals that XRP is bouncing off a very strong support box. A hard bounce could result in fireworks for the coin, but there is still a chance the bearish trend continues. This would certainly lead to new lows. In the diagram a lower support box is shown that would be XRP's next target. If this level of support gets pierced, then the coin could see unprecedented lows. This would certainly negate this bullish XRP price prediction.
If XRP does bounce off of either support line then the rally could be aided by the real world usage of Ripple's products around the world. Recently Moneygram told investors that it is officially working with Ripple's xRapid platform that helps international money transfers settle significantly more quickly than traditional bank wires.
Many altcoins have struggled during 2018-2019, but many of them do not actually have a product that is seeing widespread use. Ripple continues to be a blockchain company that grabs headlines whether or not the price action is positive. However, if this bullish XRP prediction comes true expect to see the buzz around this coin to grow even more.
To see the latest in BitBoy Crypto News, check out the latest news video!
[yourchannel video_from="playlist" playlist="https://www.youtube.com/playlist?list=PLuXIYyDlnAgPg1AfeVIolcZrLiH1szzQD"]