Price Analysis

XRP Price Awaits a Major Breakout! $20 -$30 Target Level On Cards?

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The entire crypto market has recently experienced a huge comeback. Most cryptocurrencies in the market have resumed their uptrend, with some even setting new all-time highs. Bitcoin (BTC) was back above $50,000. Major cryptocurrencies such as Ethereum, Binance’s BNB, Cardano, and Ripple’s XRP have contributed to the total crypto market value reaching above $2.1 trillion. 

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XRP price is currently trading at $1.23, down 1.19 percent in the last 24 hours. Because buying strength had remained low throughout the previous trading sessions, the alt fell short of its immediate barrier at $1.31.

A surge in buying pressure pushing XRP over the triangle’s upper trend line at $1.26 might result in a 30.74 percent breakout towards $1.65. 

On Aug. 21, the bears attempted to halt XRP’s recovery of around $1.28, but the weak drop on Aug. 22 shows that bulls are not closing their positions quickly. The bulls will now attempt to push the price above the $1.35 overhead resistance. If they succeed, the XRP might gain traction and rise to $1.66, the next major barrier level.

Also Read : Analyst Predicts XRP Price To Hit $20-$30, Is Lawsuit Settlement & Relisting On The Cards?

In contrast to this, if the bears gain control, the pair might fall to $1.07. If the price falls and stays below $1.07, the trend may shift in favor of the bears. 

The Relative Strength Index, on the other hand, has seen a revival of buying strength as of press time, and was near the 51 mark, in the positive zone. 

Analyst targets XRP Price between $20 and $30

In this bull cycle, Credible Crypto expects XRP price will reach anywhere between $20 and $30. The trader’s aim for XRP is a 2319 percent increase over current prices, based on current pricing.

According to Credible Crypto, once XRP breaks its all-time highs of $3.40, the token will go into an explosive price discovery phase that could end up as high as $30.00

“The biggest gains happen in the last 10% of the bull market. Keep in mind that XRP was trading at $0.22 in 2017 and in one month it went up to $3.30. It went 10X in a month”

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and 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.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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