In our last Ripple price prediction for 2020, we noted that the token was facing strong resistance on the road to $0.26. This resistance is still in place and the token has found relative stability above the $0.2400 level.
The token must overcome this resistance if it is to make significant progress in the next few days of trading. The token is now trading near the horizontal resistance and there is a strong chance that it will break out of this level soon. If this happens, we will confirm a break out of the descending channel and a surge to the $0.28 level. The token will have what it takes to rise by up to 5%.
While the XRP token is currently stable with signs of possible bearish recovery, there is still a strong chance of a downside correction that will take the token back to the support at $0.2230 near-term. Right now, the XRP token is depending significantly on the price of Bitcoin BTC and the market-wide correction.
At this time, the price of Bitcoin BTC is $10,769.04. It is up by 1.52% against the USD. In the next few days of trading, we would know what price direction XRP will take.
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 Approaches the $0.2500 Level but the Resistance Above the $0.2450 Level is Strong
- The Technical Indicators Show That the XRP Token Will Most Likely Move Above the $0.2550 Level
Over the last three days, there has been a lot of positivity surrounding the XRP token and the rest of the cryptocurrency market. Unfortunately, the token has failed to maintain the bullish momentum above the $0.2450 level where it has been facing resistance for days.
The token suffered a fall to the $0.2415 level but there is still hope that it will test $0.2555 soon. If the token can move as high as $0.2550, nothing will stop it from progressing to the $0.2620 level.
XRP Price Prediction 2020 – Ripple XRP Will Test $0.2700 if it Can Cross the Resistance at $0.2620
At the time of writing, the price of the XRP token was $0.245267. This means that it is up by 0.06% against the USD and up by 1.38% against Bitcoin BTC. The trading volume over a 24 hour period was $1,703,917,258 and the market capitalization was $11,070,431,182.
The token is facing several resistances and may have difficulty retesting the $0.2800 which it lost more than a month ago. When the token declined today, it fell below the $0.24006 level but has since recovered from there. As the XRP token fell below the $0.22 mark, it was supported by an ascending trendline.
