A cryptocurrency trader has claimed that the price of Ripple (XRP) may reach $28 next year and 2020 will be the next bull cycle.
XRP is currently trading at $0.21 and has not seen much improvement for a long while. Currently, the coin is struggling to cross the $0.3 level. And now a crypto trader has given a bullish prediction about its price value.
We have not seen such a bullish performance from the world’s third-largest cryptocurrency since the year 2018 when it reached the $3 mark showing a strong bullish rally.
XRP is likely to hit $28 in 2020
A cryptocurrency trader named D.Y.I. Investing says that a new bull run is coming for XRP next year. He said that XRP is likely to hit $28 next year and that the year 2020 will be the next bull cycle.
He found some signals on the chart indicating that price may go higher in the next year. He also presented some information about cyclical time frames for XRP. The crypto trader further elaborated that XRP follows cycles of 6 months to 1 year Bull Cycles followed by 2 year Bear Cycles.
Cyclical Time Frames with $XRP.
You guys have seen me post this chart before but now I have added cyclical time frames to paint an even clearer picture.$XRP follows cycles of 6 months to 1 year Bull Cycles followed by 2 year Bear Cycles. 2020 will be the next Bull Cycle. $28 pic.twitter.com/P5ZfAgPfF4
— D.I.Y Investing (@vajolleratzii) December 15, 2019
This bullish prediction has surprised other Twitter users and they have shown their doubts about this bullish prediction of XRP.
They say that XRP has yet only reached $3 mark that is its all-time high value and now it will suddenly reach $28 level. It does not seem reasonable.
Transaction of 50 million XRP
It is recently reported by @XRPL_Monitor Twitter account that an amount of 50 million XRP has been sent from one unknown wallet to another unknown wallet. Users believe that this may be an institutional investor transaction.
Transaction Type: Payment
Amount: 50,000,000 XRP
Fee: 45 drops (0.000045 XRP)
Sender: r3UfhuRaxjwGEibXZ9mRWaKMJqtSsWcP14
Sender Balance: 100,000,095.25741
Receiver: rUC8XGzh9W6uzn45GJVAoow7TxCMxmnLrq
Receiver Balance: 50,000,094.977455
Link: https://t.co/cZKOBH96on— XRPL Monitor (@XRPL_Monitor) December 13, 2019
Apart from this, a crypto trader named @gordongekko369 has said that a two-year falling wedge pattern for XRP is forming. He said that it is a XRP cannon.
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