“I’ll Be Back”, Or Why XRP Price Might Touch $0.40 By October? Traders Explain Their Thoughts

Libra Coin News
Wed, 09/18/2019 - 07:31
Vera Yurina
Altcoin season has started, and XRP price can hit $0.40 target soon. How? Read XRP price predictions from TradingView users
Cover image via www.tradingview.com

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The altcoins are attacking the crypto market full force! Ripple has increased by 16% and shows the strong sides of the uptrend. What are they? Let’s check out XRP price predictions from TradingView users.

Can XRP overcome the resistance?

Ripple (XRP) price chart by TradingView

According to TradingView, XRP isn't anywhere near out of the woods yet.

Looking at the chart, we can see that just above the current price action is the 200 week MA (in purple.) While it isn't pictured on this chart, the 50 days EMA is right in the exact same area. Additionally, you can see that the prior bear market troughs are forming some lateral resistance that price is currently contending with. However, if XRP can get above those resistance levels, we will be looking at a very different technical picture.

The big question is, will the bottom of this massive channel hold or will it break? If it holds, then we are just now coming out of the bottom of the bear market in XRP. Let that sink in for a second. This could literally be the bottom, which is why I have been buying like it's the bottom. If price breaks down below the channel, then I will reassess that position. However, XRP is currently holding strong, and the path higher remains intact.

Judging by the price chart, XRP might touch the $0.40 level in October, and $0.57 by the end of October. Now, everything depends on the resistance and whether XRP will overcome the next level.

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XRP is back

Ripple (XRP) price chart by TradingView

The altcoins come back to life after 1 month of continuous falls! The altcoin that has increased the most today has with Ripple reaching astonishing +16%. The support $0.25 has proved to be strong enough to resist any attack FRMO the bears. This support hasn´t been broken since the bull market of 2017 took off.

If the bulls keep dominating the market we might see XRP attacking the next important level --> $0.32, to thereafter go for $0.40. Ripple has proved to be a very important project for the financial sector that can try to break its historical highs at some point next year.

XRP signals the new cycles

Ripple (XRP) price chart by TradingView

A large part of the community has lost hopes in crypto and this is usually the moment we could see some relief. Most analysts have been saying XRP should go lower but there are some clear signs that XRP could be on the verge of another huge cycle.

We have several reasons to believe a bull run is coming for XRP:

  • Weekly MACD cross;
  • Weekly bullish divergence RSI;
  • RSI oversold for a very long time, needs relief;
  • Dowtrendline has broken after 1 year and 9 months;
  • XRP/USDT found support on weekly orderblock (will show in updates);
  • XRP/USDT long stops were taken and lows were raided (will show in updates).

Every time we saw the MACD on the weekly cross, we saw a huge run for XRP/BTC.

XRP finally broke the downtrend line that has been holding it down since the start of 2018, this downtrend is now broken after over 1,5 years!

We can also see there is a bullish divergence on the weekly chart of XRP/BTC which only gives me more confidence in this trend switch.

The RSI has never been this oversold on XRP/BTC and it has been oversold for a while which indicates there could be relief coming soon.

XRP/USDT is also looking amazing (will show analysis below with chart in updates). Risk/Reward is amazing here, the possible target would be the trendline resistance (red) but that is purely speculative.

Why XRP/USDT has all chances to grow? XRP/USDT found support on weekly order block (the last opposite candle in the consolidation before a strong move up/down that takes out the stops). Besides, XRP/USDT found support on the weekly 200 EMA.

Also, long stops were taken (this means that stop-loss were placed below previous lows, these stops have been taken as the price pushed beneath those lows). This usually happens before a move in the opposite direction occurs.

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Parabolas show the secret of Ripple

Ripple (XRP) price chart by TradingView

This hart will serve as an unbiased third point of view using Parabolas, which have the power of revealing the natural pattern of any vectors inside a two-dimensional graph ('trend flow' and 'trend change'). The trader kept only the most important factors needed in order to eliminate distractions and reveal critical information.

This set of parabolas (main, inner and outer) reveal about the equal amounts of bull and bear factors. Meaning there are just as many positive as there are negative indications. Ripple has equal chances right now, and it won’t necessarily skyrocket.

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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