Yesterday, a popular cryptocurrency trader on Twitter said that the XRP token is primed to double or triple the price before the end of 2021.
This trader said that crossing the 200-day moving average was a good thing for XRP and it marked a major resistance flip. It is important to note that the price of the XRP token fell suddenly overnight because the price of Bitcoin BTC declined suddenly dragging the entire market along. It started the trading day down by over 3% trading at $0.279. It was a significant decline from the $0.2900 level which was crucial to pushing the token above $0.3000.
The XRP token must remain above the $0.2700 level to prevent lower lows near-term. A decline below this level might see XRP test the $0.2500 level before the end of the coming week.
On the upside, the XRP token will make progress if it retests the $0.2850 level before the weekend. Either way, it is difficult to know what direction the token will take in the next few days.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Ripple XRP Falls to the $0.2700 Level as Bears Gather Momentum
- Analyst Believe that XRP will Triple in Price Despite Current Price Acgyim of the Token
In our XRP news yesterday, we talked about how the price of the token was stuck in the $0.2850 level. The support at $0.2850 held the line preventing the token from falling lower against the USD. However, we also noted that the token must rise above the support at $0.2919 level if it is to gain the bullish momentum it needs to cross the psychological support at $0.3000. Unfortunately, the buyers were unable to push the token above this level and the token crashed to the $0.2700 level. Despite the current bearish action of the token, some analysts believe that the token will triple in price before the end of 2021.
Ripple XRP Price Prediction 2020
At the time of writing, the price of XRP was $0.277524. This means that it was down by 2.97% against the USD and down by 0.36% against Bitcoin BTC. The trading volume over a 24 hour period was $1,408,482,563 and the market capitalization was $12,472,637,456. On-chain metrics show that the XRP token might be primed for a significant rise in price. A quick look at the data shows that the number of active XRP addresses has been stable over the last few weeks despite the staggering price action.
This is also in line with data from Santiment. Part of their tweet was as follows;
“Despite XRP’s -9.2% retrace this past week, the active address output we’re seeing for the #3 market cap crypto asset has remained high. Ripple holders can take solace in it being one of the few altcoins with a DAA bullish divergences we’ve identified.”