TL;DR Breakdown
- XRP price prediction expects a steady climb to $0.25
- Bullish movement seems steady
- Recovery from Coinbase XRP suspension bombshell found
- Volatility sky-high, but decreasing with bullish activity
- Support levels found around $0.21
As predicted yesterday, XRP price dropped down to $0.20 and slightly below in the aftermath of the Coinbase announcement. Today, it has begun the steady climb back toward $0.25 as it finds support levels.
As the results of XRP news of late continue to plummet XRP to rock-bottom price values, the crypto still continues to fight upwards.
At the time of writing, XRP price currently stands at $0.217 – up over 20 percent on the opening price on the day.
Use the oscillator below to check what role XRP might play in your portfolio.
XRP price prediction: 1-Day chart overview
The 1-Day chart overview indicates some sense of life revitalizing within the crypto market.
After the barrage of news hitting XRP lately, prices have seen lows of $0.17 – 15 percent lower than yesterdays predicted target. As news today of the case pretrial conference is revealed, XRP price actually started to turn green on the daily candle for the first time since before Christmas.
The Historical Volatility (HV) indicator shows us a very high HV level of 354. With such volatility in the XRP market right now, this high level of volatility is to be expected. A more analytical approach to volatility later reveals a lot more.
The Relative Strength Index (RSI) shows us that XRP is bordering on the oversold lower RSI boundary. As this falls ever-lower, bullish momentum should normally be expected. Unfortunately, at this time, everything is highly unpredictable in the XRP market right now and should not be relied upon just yet.
XRP price prediction: 1-Week chart overview
Observing the 1-Week chart overview, it can be seen that a long wick is appearing at the bottom of the weeks candle – just two days away from 2021.
As seen above, the support level of $0.217 seen in late July has been reached on the weekly candle. This provides some hope to XRP for a steady recover from the sky-high fall witnessed through December 2020.
The HV levels remain very high around 220 HV still on the weekly chart alongside a steadily decreasing RSI level of 42.5. These together should suggest a price increase on the horizon, but again, due to the XRP market’s current unpredictability these indicators should be taken with a pinch of salt.
XRP price prediction: volatility overview
Considering the XRP volatility chart is where it becomes quite interesting. The vast spike seen ranging from 140 HV to almost 400 HV was the plummet of value loss seen through late December. What can be seen here is a fall in volatility as the XRP price attempts recovery.
This volatility chart is highly suggestive that bullish XRP movement would actually drop volatility significantly if the movement remains steady. Any quick changes in the market attributed to whale movement or market manipulation would render this volatility prediction null and void.
XRP price prediction conclusion: XRP price to climb steadily back to $0.25
This XRP price prediction conclusion expects this steady rise in XRP price to continue into the weekend on a steady climb to $0.25.
If bullish movement develops too rapidly, the selling pressure will likely overwhelm any chance of this progression back to $0.25.
Were this pattern above of chart depiction to be realized, a full recovery of XRP price could be found past the dawn of 2021. As the prices increase and receive acceptable levels of correction in a kind-of ‘W’ pattern, XRP price should remain comfortably on this chart. Again, any whale mass-movement or market manipulation will render this prediction incorrect.
As always, trade safely, carefully, and only trade what you can afford to lose.
