The crypto education and analysis platform EGRAG CRYPTO (@egragcrypto) took to Twitter earlier today to share some price possibilities for Ripple (XRP) in the coming days. The platform decided to take a closer look at the Regression Channel and the Bollinger Bands on XRP’s charts to get a better understanding of what to expect from XRP.
XRP / US Dollar 1D (Source: Egrag Crypto)
With regards to the Bollinger Bands, EGRAG CRYPTO believes that if XRP can close above these bands, the remittance token could possibly target a higher price of $0.58. Furthermore, XRP’s price bouncing from the top end of the Regression Channel could also prove to be a bullish move for XRP as it indicates that bulls are eager to not lose $0.50.
EGRAG CRYPTO did, however, mention that $0.48 could still be a possibility for XRP as long as Bitcoin (BTC) is ranging, but added that they do not believe the altcoin will revisit this level. It is also still possible for XRP to drop to between $0.43 and $0.37, but EGRAG CRYPTO believes that this could only happen if BTC tests $25k to $27k.
XRP price (Source: CoinMarketCap)
At press time, CoinMarketCap indicates that XRP is trading at $0.5167 after a 0.47% price increase over the last 24 hours. XRP was also able to strengthen against BTC and Ethereum (ETH) by about 1.10% and 0.35% respectively during this time. The crypto is, however, still down by 1.45% over the last week.
Currently, XRP’s 24-hour trading volume is in the green zone, and stands at $928,746,477 after a more than 11% increase since yesterday. With its market cap of $26,728,113,941, XRP is currently ranked as the 6th biggest crypto in terms of market capitalization.
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The post Crypto Analysis Platform Shares Its Predictions for XRP’s Price appeared first on Coin Edition.
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Source: Cryptocurrency - investing.com
