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June 15, 2024
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XRP Price Might Surge To $0.83 Levels If This Scenario Playout

The post XRP Price Might Surge To $0.83 Levels If This Scenario Playout appeared first on Coinpedia Fintech News

The beginning of the weekend has worked out well for the cryptocurrency market as the prices of the majority of coins continue to rise. Today, the price of XRP surged dramatically, reaching a four-month high as the digital currency benefited from positive sentiment. Investors banked their hopes on Ripple succeeding in its continuing legal struggle with the United States Securities and Exchange Commission. 

Any good or bad news about the SEC case is sure to have a big influence on the price of XRP. Here’s what analysts, chartists and traders who have been keeping an eye on the XRP price, have to say about the current situation.  

Analyst, who goes by the name JD on Twitter, dropped an update about XRP and said that it is still within the RSI trendline. He mentions a date and said that the end of the triangle is roughly April 17th.

However, whether XRP will break out or not, only time will tell. “Maybe that final “capitulation wick” to that 0.786 before? I’m ready both ways,” he added. 

Does XRP have a catching up to do?

Market analyst Tara says that XRP has a lot of catching up to do. She said that once the coin breaks above the $0.43 barrier, there is no stopping and also predicts a rally which may extend to $0.83 levels. 

A user by the name Kivvwi on TradingView wrote, “I’ve been keeping an eye on XRP for some time now. and I expect it to be around $0.55 in 1 or 1.5 months, for a long-term buy. for a shorter-term approach (1-1.5weeks), I would be looking at $0.45. And in any case price shouldn’t be falling below $0.33.”

According to a user by the name traderview2, the crucial level for XRP is 0.396. A significant shift will probably result from the judge’s ruling in the case. If the decision is beneficial to Ripple, XRP might soar to the green zones; if not, it may sink to the low 0.20s. 

“The structure formed since June 2022 is odd to say the least. Its been seen two other times in history. 1st time was in early 2017 before XRP surged to 0.45 from 0.005. Second time was Dec 2018 – Apr 2019, which ultimately happened before its year long journey to 0.10.”

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