A crypto analyst comes up with good news for the XRP price value. According to him, the price of Ripple is going to cling at $0.56 at the beginning of December. Currently, it is standing at $0.24 with a -2.43% change in the past 24-hours.
Adoption is high but the price is low
Ripple network is expanding and its adoption by major companies and firms isolating it as the top firm after Ethereum who is making agreements on a large scale. Moreover, it has also launched many financial apps to transact money across the borders.
As in the words of Ripple CEO:
Ripple is focused on enabling payments Everywhere, Every way for Everyone.
But the price XRP is stuck below $0.3 and not showing any satisfactory surge as compared to other leading cryptocurrencies of the crypto markets. There is an allegation on the company that they are manipulating the value by adding and releasing the funds from the Escrow.
XRP to $0.56
A crypto trader and analyst with Twitter username ‘The CryptoHawk’ stated in his recent tweet on the basis of a fractal. As per the tweet, the value could reach $0.56 by early December. This could be possible if the fractal is in play. He also gave the target level in case of dropping of value; the level may be at $0.12.
$XRP – Today is the day to know if fractal is in play or not! As explained, 10 days for cycle 8 is on this 21st. If fractal bottom is in we should we start some sideways then $0.56 early December. If no fractal we just die to 0.17-18 then 0.12-14! #XRP #XRPCommunity pic.twitter.com/KU5gbc7Qi5
— CryptHawk – Bipolar Fibsperer (@TheCryptHawk) November 21, 2019
It is observed back in the month that XRP went below the support level of $0.25.The value goes down beside the fact that the Swell conference is coming and it is expected that the price value will pump upward before the coming of the Swell conference.
As it was recorded last year that price touched the mark of $4 in January due to the commencement of the conference. The same surge target is expected from the coin this year.