Will XRP Price Be Caught In Another Bear Trap? $0.30 Resistance Is Approached Again

Libra Coin News
Sun, 08/25/2019 - 06:00
Vera Yurina
When Ripple’s downtrend should end? Check out what Twitter users think, and read XRP price predictions from TradingView
Cover image via 123rf.com

Ripple continues holding around $0.27, and traders are trying to guess what will happen to it next. It seems like XRP should not fail the support levels anymore, but is there anything to gain it momentum for growth? Let’s check out Ripple XRP price predictions from TradingView, as well as traders’ opinions in Twitter.

XRP is preparing a surprise?

A few users have noticed the repetition of a pattern that was 2 years ago. Does it hint us that XRP price will explode? There is such probability.

Here’s one more interesting suggestion:

Thus, it’s time to buy XRP and wait for the better times:

Despite the evident bearish period and bearish traps XRP keeps being caught into again and again, some Twitter users are still highly optimistic about Ripple:

Those are opinions based on second-guessing, but what do technical indicators say? Let’s read XRP price predictions from TradingView users.

Bear market might has ended

Ripple (XRP) price chart by MagicPoopCannon

Haters love to say it's "the worst performing crypto asset" — which, in 2017 was actually the best performing crypto asset with an enormous ROI. Among other usually false things, they point to the fact that XRP remains in a bear market, while BTC and many others have enjoyed powerful gains. Until a major technical change happens, they're absolutely wrong about XRP's technical picture. XRP currently has one of the most bullish technical charts, and if we look at the bigger picture, XRP is clearly in a massive, absolutely uptrend channel (in blue). 

When looking at channels in markets, the trader assesses the touches on the upper and lower trendlines of the channel, like most analysts do. If we pay specific attention to the midline of the channel, it becomes abundantly clear that XRP has had a plethora of interactions with it (pink circles.) The fact that XRP has had so many interactions with the midline of this channel, proves that it is undoubtedly in an uptrend channel. Moreover, this channel has been in the making during the entire existence of XRP. The reactions to the top and bottom of the channel are also very clear, further adding to the validity of the formation. 

XRP is in one of the largest uptrend channels. Now, whether or not this channel will continue to hold, is anyone's guess. However, given the incredibly strong fundamentals of XRP, the token is most likely at a major discount right now, and the most likely outcome is that XRP will hold the bottom of this channel and begin to move higher. Admittedly, that is an assumption, and as technical analysts, we have to watch for price to continue to show us that it's holding the bottom of the channel. Because, just as XRP could hold here and blast off, it could also break the channel and collapse. 

Looking at the current price action, we can see that XRP is currently holding around the exact bottom of the channel. Additionally, we can see that XRP is holding around a major lateral support zone (in green.) Looking back to 2017, we can see that there was a very similar lateral support zone, which also interacted with what is now the bottom of the channel. Price clearly entered a parabolic explosion shortly after that convergence of support. 

XRP is on the path to the top

Ripple (XRP) price chart by MarketMotives

According to MarketMotives, this is the last post f until the impending bullrun is well under way. Look at the pattern before the previous explosion in price – they are very similar. Seems like the history repeats itself, XRP is in for HUGE gains in a very, very short order. We see patterns and time and time again, they seem to come to fruition. It seems that this chart is behaving just as it did prior to the last major explosion in price. What will the catalysts be? Supply/demand, institutional adoption announcements, burning coins? No one knows. But XRP is here to stay and as it is the standard, you will likely see it rise alongside BTC in parity, however delayed.

XRP heads to 618 Fib

Ripple (XRP) price chart by hotwings

The user hotwings claims to have found a secret that requires the full XRP history which almost every exchange is hiding from us. They will drop more loads of XRP into the market at the points on the top off the broadening wedge (at the point A). Final target is the 618 Fibonacci entrancement below! 

Based on the Bitcoin chart, we will consolidate for a few months under the 786 before trying to push upward.

Ripple (XRP) price charts by TradingView

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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