XRP Price Prediction: The Big Bounce to $0.5
You’ve heard the rumours – XRP, the world’s third-largest cryptocurrency, is due for a big bounce. According to some speculators, if the key upside break is achieved, XRP could enter a new rally and increase its value up to $0.5. Wow! Could this be true?
What the Experts are Saying
We went around town to find out what the experts and traders have to say about this latest prediction.
According to cryptocurrency analyst Josh Rager, XRP needs to break and hold above the 20-day moving average of $0.226 and the resistance level of $0.236, in order to trigger a strong upward move. “Short-term traders could get long above $0.236 with a good risk versus reward ratio. On the higher time frames you must wait for higher levels to get long,” Rager noted.
The crypto-trading platform eToro has also printed a study which argued that “further upside could be likely” if the $0.236 resistance level is broken.
What is Driving the Prediction
Crypto analysts argue that several factors could be driving the XRP rally. For starters, Ripple’s recent acquisitions and collaborations, such as the tie-up with the bank Kazakhstan, could be bringing new adoptions for XRP.
Secondly, technical factors, like the 50-day moving average crossing above the 200-day moving average could signal bullishness. Finally, XRP’s recent “golden cross” setup, triggered by the 100-day moving average crossing above the 200-day moving average, could also potentially signal a bullish trend.
What’s Ahead?
So, will XRP truly reach the much-awaited $0.5 milestone? Well, that could depend on several factors, such as whether or not the key upside break will be achieved, and if so, the sustainability of the rally.
But that certainly doesn’t mean you should give up hope yet! XRP could still surprise us and make the big bounce. So if you’re a risk-taker, why not take part in the fun?
And of course, if you’re going to take this step – please, always keep in mind to invest responsibly, and do your own research before making any moves.
Good Luck!
We hope this XRP price prediction helps you when it comes to your next trading move. And if you’re patient and brave enough to take the risk – you could be the one who gets to the $0.5 milestone first! We wish you the best – and may the odds be ever in your favor.
