By Davis Byrne (US)
A Bitcoin and cryptocurrency trader has predicted that XRP may see an 11% increase in its price since the buying interest has kicked in around $0.21 mark.
Recently, a crypto user named @Crypt0mer claimed that Ripple (XRP) price value might make a move in the upcoming days. Though, he did not mention whether this move would be bullish or bearish. But according to the chart that he presented, it seemed that the price will move in the upward direction.
Our beloved standard looks like it's about to make a move. $XRP $XRPUSD pic.twitter.com/qRf6tR65lA
— CƦYP₮ΘɱΞƦ
(@Crypt0mer) December 6, 2019
A bounce to $0.25 seems reasonable
Following his previous claim, the crypto and bitcoin trader has predicted the price of XRP. He said that the price value of XRP might surge by 11% from $0.22 to $0.25.
He further said that as the buying pressure has kicked in around the $0.21 level so a bounce to $0.25 seems reasonable. For the support of his claim, he presented 12hr VPVR and HTF fib retracement levels on the log scale.
Buying interest kicked in around $0.21, a bounce to $0.25 seams reasonable, if $XRP catches on fire maybe a re-test of $0.285 since it gapped down hard.
Here is the 12hr VPVR, and HTF fib retracement levels on the log scale. I'm trading the bounce rn, then I'll re-evaluate. pic.twitter.com/SdmdJT6mq6
— CƦYP₮ΘɱΞƦ
@Crypt0mer went on stating that the crypto asset has been trading in the bearish mode for one month and now it has pulled itself out of this zone. Furthermore, he said that the RSI is very near toward the key territory and if the XRP bulls can take the price of the coin up from its current level then XRP could see a short-term bullish rally in the upcoming weeks.
Also read:XRP also faces bearish predictions
Though some analysts are hoping that the coin may show a bullish behavior, others think that the token would remain bearish in the next few weeks.
A crypto trader has said that instead of a short-term bullish trend, the crypto asset will show a short-term bearish trend decreasing down to $0.17 by 20%. Another crypto trader, Jonny Moe also gave a bearish prediction of the coin and pointed out that the token may remain in a bearish zone in the upcoming weeks.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.