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XRP Price Analysis—Analyzing Growth Potential to $0.27

Can one expect another correction of XRP before setting new peaks?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bulls have come back to life on the cryptocurrency market as all Top 10 coins are in the green zone again. Binance Coin (BNB) is the top gainer, rising by 5.36% over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Total market capitalization has increased by $10 bln as a result of the coins' rise. The current index accounts for $356 bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP right now:

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  • Name: XRP

  • Ticker: XRP

  • Market Cap: $11,453,472,014

  • Price: $0.254282

  • Volume (24h): $2,218,073,446

  • Change (24h): 1.89%

The data is relevant at press time.

XRP/USD: Can buyers fix above $0.25 in the long term?

Sellers pierced the $0.250 support yesterday morning, but the XRP price was able to bounce off the 2H EMA55 and recover to the $0.255 area by the end of the day.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The recovery halted overnight, but today buyers still have a chance to test the $0.270 mark. If bears intensify the pressure, the pair will roll back to the support of $0.230 by the end of the week.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the 4H time frame, XRP has gotten out of the consolidation channel formed on Sept. 5. Thus, the MACD indicator is still located in the green zone, which confirms the bulls' ongoing power.

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Besides, there is high liquidity concentrated in the area between $0.27 and $0.30, suggesting growth potential. In this case, traders may expect the rate of XRP at $0.2659.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the longer term, a bullish scenario prevails over the bearish one. Even though efforts are not enough to set local highs, one might expect a comeback of XRP to the resistance at $0.2721. In addition, the bullish divergence on the RSI indicator supports buyers' ongoing power.

XRP is trading at $0.2539 at press time.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com