The price value of Ripple is, currently, hanging around $0.22 with a slight change of 2% in the 24-hours. The one-month data of the coins unveils a very harsh fact that Ripple has got down nearly -21%. The current position of the token is very critical as there are chances that the trend line will go in one direction, whether upward or downward, and will remain there for a longer period of time.
There are two schools of price analysis: one is giving a prediction about the bullish trend while the other one is speculating about the bearish zone. Let’s dive into what they are saying about the next price move.
The crypto enthusiast and trader, CryptOmer, shared a chart on Twitter in which he made a concluding statement that goes directly on the bullish side. The chart clearly shows that the descending channel which accumulated in the past month is now going to end.
The break out from the descending channel will push the price towards a bullish move. The RSI indicator also shows a key area which implies that if the trend line will be successful in going slightly above then we will see a rally on the part of the token.
— CƦYP₮ΘɱΞƦ (@Crypt0mer) December 6, 2019
The crypto trader and analyst, Magic, who is a very controversial personality claims that the falling wedge pattern of the XRP predicts that price is going down.
Similarly, another trader called Jonny Moe shared its chart in which he tried to convey the information by making a triangle which is bearish. The bearish triangle signals the coming bearish trend.
— Jonny Moe (@JonnyMoeTrades) December 5, 2019
On the basis of the speculations made by the crypto analysts, the conclusion is made that the current position of the trend line is in a deciding phase and can turn its direction in either one of the sides.