Ripple’s XRP Technical Analysis and Price Prediction 2018, 2020
After a brief period of turmoil in the crypto market on Thursday, the aftershock persisted with most major altcoins, barring a few tokens including Ripple’s XRP. Though the coin was posting solid gains on Friday, the positive movement followed a grim week that saw the digital asset lose close to 18% in its value. In the early hours of trading, Ripple‘s XRP started picking up, adding nearly $2.14 billion to its market cap in a span of just seven hours.
The MACD indicates that though the token is on an upward trajectory, it is still trading in the bearish zone. The 100 EMA line, at the time of writing, showed that the coin was exhibiting a downtrend. The crypto is far from breaking out from the key resistance level, which can be traced at $0.54.
At present, the hourly RSI indicator is marked at 58, which implies that the digital currency is experiencing increased buying. The total market value of the virtual asset stands at $17 billion, according to CoinMarketCap. The token has inched up nearly 4% against the U.S. dollar to trade at $0.43.
At press time, the coin had climbed 3.5% against Bitcoin [BTC] with one XRP valued at around 0.00007 BTC.
Ripple’s XRP Price Prediction 2018, 2020
- The Economic Forecast Agency has predicted that the altcoin will likely be devalued in the near future and by the end of this year, it could drop to as low as $0.32.
- Ripple Coin News expects new partnerships and emerging technologies to aid the crypto in rising to $8-$10.
- The Daily Express has forecast that the digital asset will likely touch $5.06 by the end of December.
- According to Coin Switch, the year 2020 will end with the virtual currency trading within a range of $1.40-$1.50.
Ripple’s XRP Latest Updates
- Recently,Ripple announced two amendments to the XRP Ledger V1.1.0 – DepositPreauth and fix1515. Ripple notified users to immediately upgrade their version to V1.1.0 or higher.
- The World Trade Organization (WTO) recently released a report highlighting Ripple’s potential of becoming the driving force for changing the world’s financial system. “Ripple has ambitions to circumvent the correspondent banking model through its distributed ledger platform”, the WTO report stated.
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