Ripple Price to Go up to $0.37 or it May Dip to $0.23
Ripple (XRP) is currently among some of the luckiest cryptocurrencies that are growing stronger in potential. The trading price of XRP may not be as attractive as it used to be in the past. However, it does have the potential to grow into a strong and very promising digital asset.
Ripple has multiple factors that may help the price of XRP grow significantly in the future. For now, let us go through the performance of XRP and see how it has been done and may perform in the next few days.
Recent Performance of XRP
Prior to June 30, the trading price of XRP had been moving in a lower direction. However, the bulls did attempt to push XRP’s price higher. The bulls tried hard to try and push the trading price of XRP towards the recovery point.
However, the strong selling power of the bears prevailed. They were able to push the bulls back into a weaker position. Initially, the bulls had attempted to push the trading price of XRP all the way up to $0.35, an overhead resistance mark.
The bulls did not let it happen and the trading price of XRP did not make it over the resistance mark. This meant that despite exhibiting a low-level rally, the bears were not ready to let the bulls take full advantage of the trend.
XRP’s Rise to $0.37
For now, the bears are trying hard to pull the trading price of XRP below the $0.30 level. If they succeed in doing that, then the trading price of XRP may indeed come close to $0.28 and then fall below the mark.
If the bulls are unable to defend the strong support level with much power, then the trading price of XRP may fall much lower than the $0.28 mark. However, if the bulls mount a stronger rally, they may succeed in pushing the price of XRP through the overhead resistance mark.
In this particular case, the trading price of XRP may rise all the way up to the $0.37 level, which is the 50-day SMA.
The Downward Movement of XRP
If the trading price of XRP ends up moving in the lower direction, then the bulls will have to muster up a lot of power to defend their positions. If the bears attack with a stronger force, they may succeed in pulling the trading price of XRP below the $0.28 level.
This may trigger a strong selling spree, pulling the trading price of XRP below the $0.23 mark.
Despite the negative predictions, it is highly likely for XRP to move higher. This is because XRP is getting ready for a strong rally and it has Ripple to thank for that.
The first factor is the potential victory of Ripple versus the US SEC. Then comes the global expansion of Ripple as it has opened its office in Canada and New Zealand. These are considered strong moves from Ripple’s end and the investors may line up in support of XRP given these circumstances.