Ripple’s XRP Price 3rd Phase Of Bull Run Expected, $10 Imminent!
Ripple Price May Have A Extended Rally
Ripple’s XRP price had maintained a well-balanced rally around $1.32 with minor fluctuations until the major slump occurred. The price was completely destabilized and visited much lower levels. However, a much intensified recovery was expected which failed to occur and the price yet again drained back below $0.9.
However, considering the previous price movements, the price each time has undergone a long jump during a phase of bull run. As pointed out by a popular analyst and XRP proponent, cryptobull2020, the next move may rally the price from $0.82 to $10 range.
Despite the bullish momentum and positive market sentiments, the price movements may be dependent on how Bitcoin is leading the market. If the BTC price rallies high towards the target initially set around $70k.
XRP Price Analysis
The XRP price followed a descenting trend since the price slashed drastically in no time. Many assets attempted an accelerated bounce back and recovered the losses to some extent. Yet XRP failed to sustain above $1.
Currently, the price has slumped below the 20-day MA and needs to bounce back above $0.96 to rise above the MA.The RSI levels also trending around the lower levels, indicating the asset has been oversold, hence below the average price.
At the time of writing, the XRP price is $0.886 with a drop of nearly 15.32% in the past 24 hours. Currently, the prime focus for the price is to smash the levels above $1 and sustain strongly to keep the bull run intact.
- The resistance levels are at $1.21
- The support levels are at $0.85
- The indicators point out at a sell signal