Skip to content Skip to sidebar Skip to footer

The price of the XRP crypto has increased exponentially over the week, reaching over 63% in value. The successful breakout pushed XRP up one position and is now ranked #6 among other cryptocurrencies.

Will XRP continue to pump? XRP is available on eToro.

Crypto-assets are highly volatile and unregulated. No consumer protection. Income tax may apply.

XRP Ripple Price Prediction 2022

Zooming out of the XRP crypto price charts, the recent pump broke through a critical level of resistance. At the time of writing, XRP is trading at $0.45 and has just lost a key support level of $0.51.

The chart below reflects XRP previously rejected at the yellow resistance trendline, however, on this particular occasion, the bulls were able to retest and break imminently, driving the price of XRP to $0.55.

XRP/USDT – Weekly Timeframe.

Over the course of the 105 days, XRP traded in a consolidation pattern known as the horizontal channel and formed a giant double-bottom bullish reversal pattern within it.

As bulls grow increasingly optimistic about a legal settlement with the SEC, the excitement is reflected in price action.

XRP/USDT – 4 hour time frame.

XRP climbed to $0.55 and has since corrected 17.25%. By entering overbought territory on the relative strength index at 80.77, a correction was expected to occur.

Currently, XRP has lost support from the 0.382 Fibonacci retracement level and could potentially make way for the next support trendline at $0.44.

Overall, XRP is down 76.18% from the local high of $1.96 set on April 14, 2021.

While I don’t think we’ll see any all-time highs this year, current price levels could be described as undervalued and offer strong returns heading into the next crypto bull run.

XRP Ripple Crypto Video Analysis

According to Coinmarketcap, the current market capitalization of XRP is $23.1 billion. Incredibly, in 2018, XRP had a market capital of $130 billion.

The last bull run of 2021, the market capital for XRP stood at $81.4 billion. My guess is that if there weren’t so many legalities suppressing a bull run, we could potentially see the market capital for XRP explode beyond $200 billion.

If you want to add XRP to your wallet, you can head over to eToro.

Crypto-assets are highly volatile and unregulated. No consumer protection. Income tax may apply.

Source link

Leave a comment