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Ripple: XRP Price Prediction and Technical Analysis For May 16th

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These are good times to be an active cryptocurrency trader. Even with the barest of knowledge, anyone can get a feel for how the markets are currently evolving and where things may head next. The recent XRP price momentum certainly took people by surprise, although the excitement might not necessarily be over just yet.

XRP FOLLOWS THE OVERALL TREND

It is always difficult to pinpoint an exact reason as to why the value of any currency, token, or asset is moving up. Over the years, it has become apparent most markets follow Bitcoin’s overall trend in one way or another. When the world’s leading cryptocurrency continues to rise in value, there is a good chance all other markets will follow a very similar path.

While most people would like to point at Ripple’s developments behind the scenes, it would appear that has little to do with this current price increase. It is good to see the parent company continue to forge ahead with its plans to revitalize the financial industry. However, that has very little to no impact on XRP’s price directly. More specifically, it won’t affect the public price of XRP, as Ripple’s partners are not buying this asset from places like Binance, Coinbase, or Poloniex.

XRP/USD TECHNICAL ANALYSIS

On to the good stuff for today. For this chart, we are looking at the XRP/USD ratio on Bitstamp, which tells a rather interesting tale. All of the indicators on this Tradingview chart are free to use and will not require a paid subscription to plot. At the bottom of the chart, we have the MACD indicator with standard settings. On the price part, there are Bollinger Bands with standard settings, as well as the RSI Strategy indicator with its default settings. This latter indicator is a personal preference and can be substituted for any other of one’s choosing.

By drawing basic support and resistance levels, we can see the XRP price has successfully bounced twice from its support level at $0.27497 in recent months. Financial markets have a long history in terms of revisiting old levels, which is exactly what happened in recent weeks. That level originally came into play for the last time in mid-September of 2018. Keeping a perspective on things is always crucial.

As of right now, there was some initial resistance at $0.36419, which acted as a support level in October of 2018. XRP blazed past that level with ease and is now attempting to break a “perceived’ resistance level at $0.45893. This is not necessarily an actual resistance level, but it is not a previous support value either. It is a point to which the value is drawn quite regularly. Breaking it successfully can yield a potential push to $0.50216, or in the best case, to as high as $0.56747. All of this will hinge on how bullish Bitcoin continues to be, as that remains a big unknown factor.

Based on the MACD indicator, it would seem another uptrend is forming. After spending a bit of time in the “oversold” part of the indicator, a very strong bounce has materialized which pushed the price higher as a result. This move seems more convincing than previous upward crosses, as those were all short-lived or potentially fake breakout signals. The last time an upward push of this magnitude took shape was in September 2018 when the value surged to $0.56747 in a few weeks. History could be repeating itself, but the value may continue to ping-pong between $0.45893 and $0.36419 if a successful break doesn’t materialize.

XRP/BTC TECHNICAL ANALYSIS

Things look somewhat similar over in the XRP/BTC department. While some may think that is automatically a given, the USD and BTC value of a market don’t always move at the same time, especially not in the cryptocurrency world. We use the exact same free MACD, RSI Strategy, and Bollinger Bands indicators on Tradingview for this daily chart, which also uses Bitstamp as its exchange.

XRP’s BTC value also received a much-needed bounce at the 0.00004229 BTC level.  Similar to the USD chart, this BTC level came into play in September of 2018. Ever since the price bounced from that point, it reached a high of just under 9,000 Satoshi. This time around, it remains to be seen if things will ever get to such a level again. A lot of damage has been done in recent months, and the path to recovery is never an easy one.

So far, a few interesting price level can be identified. With a successful bounce off the 0.00004229 BTC level, a push to 0.00006450 seems somewhat plausible at this point. This particular level has acted as support during the previous uptrend, but later turned into a resistance level when the price broke through it rather quickly. Overcoming this hurdle may prove an interesting challenge. The second key level is situated near 0.00007176 BTC, which has acted as both supported and resistance in the past. Under the current circumstances, it is still a resistance level to overcome. Looking beyond that point won’t serve any real purpose, but the 0.00008643 BTC and 0.00009769 BTC levels are other key zones to keep an eye on in the future.

The MACD Indicator for XRP/BTC also shows a healthy desire to turn bullish in the coming days, assuming Bitcoin’s trend doesn’t fall apart. The market is in rather oversold territory for quite some time now and is showing signs of reversing course. This current uptrend is not an official confirmation yet, but it looks as if things could start to improve. Right now, it seems the uptrend will remain in place for another day, although one never knows what the next few hours may bring.

SPECIAL MENTION: THE ELDER RAY INDICATOR

Not too many cryptocurrency traders are familiar with the Elder Ray Indicator. It is by no means a requirement to determine the future XRP price or value of any other financial instrument. However, it is an “extra tool” to see how the comparison of bulls versus bears looks in the market at any given time. Over at Trading212, one can apply the Elder Ray Indicator to a handful of cryptocurrency charts, including the XRP one. Traders can never use enough indicators to seek confirmation of a current market trend.

When looking at this indicator, the blue line indicates the “bull power”, whereas the yellow line represents the “bear power”. Both of these values are often close together. At this time, both lines are moving up, which shows the market is in a healthy state. This is not a pump by a few traders, as there are plenty of people performing “bearish” actions to keep the overall growth in check. One can interpret this signal as an extra validation of how the uptrend can remain in place for at least another day. However, this situation can always change in volatile markets.

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Ripple’ XRP Price Approaches New Bottom: Traders Predict $0.2 XRP Price In A Week

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XRP is to touch $0,2 level, according to traders’ forecasts. However, some TradingView users have a different opinion. What to believe? Read the recent XRP price predictions

Ripple is shocking the crypto community: the $0.3 support seems to have failed, but it’s not the bottom yet! The current XRP price of $0.26 seems to be a weak support zone, and the crypto community is embarrassed. What to do with XRP? Buy or wait for it to get even lower? Let’s read Ripple’s XRP price predictions from tradingview and check out what people think about this crypto.

Turbulence ahead!

XRP will touch the level below $0.25

Ripple (XRP) price chart by carltonzone

The movements on XRP the past couple of days have taken a lot of us by surprise, and it might get ugly in the short-run. 

We found a critical pivot point on the new Big Light Red just days ago when we experienced the massive red candle of doom. After the extended period of boring side-banding, a few interesting hints appeared.

The current trajectory of the blue Fib indicates that we have broken free from its gravitational pull. The downward momentum has us possibly looking to touch down on the Light Blue 3.618 below. We could float around a bit, and touch that line just below $0.25. There are no pivot points that jump out at me that would indicate a pivot point changing the direction of this trend. Therefore, the 4.216 could be the next possible stop. 

There are many XRP price predictions around $0.22, and this would definitely coincide with the landing point along this current trajectory IF we blast through the remaining Light Blue fibs indicated on the chart. When we are on the underneath side of the circles on the right, in quadrant 2 in a clockwise direction, the tendency is to continue in a downward direction. The past is not always indicative of future movements, but when it’s all we have to hang our hats on, it’s the safest way to assume the direction.👉MUST READ

1 more month of accumulation

Accumulation continues

Ripple (XRP) price chart by kyer

Here’s a very interesting XRP price prediction that contradicts what’s been said about XRP in the previous day. 

The wedge we’re looking at spans over 400 days starting on August 12th, 2018 and should breakout before September 28th, 2019. This month, August, we should just see XRP accumulating between $0.30-0.32. We can only hope it gets back to $0.30 level The Monthly chart confirms this. 

September is the month our lives will change. At this point, $XRP has accumulated enough to test out of the wedge. If it doesn’t have enough strength, October will be the month this coin goes to the moon. 

You can see in May-July it tried to breakout, but it wasn’t strong enough and the whales pushed the price back down. 

According to kyer, the next move up will break $XRP out of this wedge, just like how it did at the end of 2017. All the stars are aligning for $XRP to move up, the price has been suppressed long enough. Alt season should come around Sept-October, the same time that Bitcoin/Ethereum is moving up too.👉MUST READ

Downtrend will continue

Wait for alt season – XRP will soar

Ripple (XRP) price chart by tradinginthezone2019

As expected, eventually the support was eaten up and it collapsed out of the range it’s been in for some time now, as some good traders said, it wasn’t unlike BTC at 6k in 2018. 

This is where things get interesting, XRP is now reacting to the levels set back in 2017 before the euphoria pump. Most likely, it will rally back to local resistance and then collapse further. May open a short if it gets even close to the 30 marks as this will not be reclaimed for at least a few months (unless we get alt season).

Final words

Even the current situation is not a time to panic sell. If you’re not a swing trader, this should be of no concern. The best advice is to look at the BIG picture and sit steady in the boat. For those of us looking for long-term gains, we can’t be concerned with this part of the market cycle. There will be ups and downs. But in the long run, the nastier it gets, the better. You make the BIGGEST gains on the long-shots. Remember, we are in the EARLY stages of the cryptocurrency market. The best has yet to come, and this is the dawn of a coming new financial age. 

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From The Charts: Could This Be The Best Time To Buy XRP?

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The crypto market is getting a little uncertain of late, although a lot of fans are still optimistic that a bull run will soon come into play. XRP is one cryptocurrency that has braved the darkest moments of the market especially the recently-ended crypto winter.

However, XRP seems not to get a price push upwards despite various positive news especially regarding Ripple and its efforts in propping up the crypto. 

However, according to a claim by one crypto market analyst at ThinkMarkets, now might well be the best time to buy XRP at its current low price. At the moment, XRP trades at $0.2645. 

XRP Is Oversold

In a tweet, the analyst, Naeem Aslam, argues that XRP is already oversold and buying in at the current price could be a great idea for investors.

XRP Chart By @NaeemAslam23 | Via Twitter

Aslam also claimed that the XRP market is currently below the 200-week MA (Moving Average) and its RSI (Relative Strength Index) has dipped below the 37 mark. In Aslam’s opinion, these dynamics suggest that the bear market may have ended, paving way for a possible bull run.

BTC Dominance Threatens Altcoins 

Over the last few weeks, bears have demonstrated some kind of a move that has threatened the market with plunging back into the already-ended winter. A lot of the altcoins, including the top coins like XRP and Ethereum, have shed off some figures. 

On the other hand, Bitcoin has remained strong especially in terms of market dominance. BTC is currently at 69% by market dominance – up from 50% of 5 months ago. Basically, this means that the whole of the altcoin market shares the remaining 31%. In March 2019, XRP had a whole 10% market share in the crypto market. Today, the percentage has dropped way down to 4%. 

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Ripple (XRP) May Face Grim Future Despite Today’s Bounce

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Earlier this past week Ripple (XRP) along with the aggregated crypto markets faced an incredibly sharp sell-off that sent XRP reeling down to lows of $0.25, which marked a significant pullback from the mid-$0.30 region where it has previously found stability.

Although the crypto was able to post a small bounce today, analysts are still noting that XRP broke below its 2018 support level, which could mean that significantly further losses are imminent.

Ripple (XRP) Finds Support Around $0.25

At the time of writing, Ripple is trading up just over 1% at its current price of $0.265, which marks a slight increase from its daily lows of just below $0.26.

This past Wednesday, XRP incurred a significant influx of selling pressure that sent its price reeling down from over $0.30 to lows of roughly $0.25, at which point it found some strong support that allowed it to climb slightly higher.

It now appears that the $0.25 region is a strong level of support, as it has bounced each time that it has visited this region.

Importantly, unlike many other major altcoins, XRP is currently trading below its 2018 lows, and has now set a fresh low since it first began its downwards ascent from highs of nearly $4.00 in early-January of 2018.

Will XRP Drop Further in Near-Future?

Although analysts are not sure what has been the root cause behind Ripple’s lackluster price action throughout 2019, some investors have pinned it on regulatory concerns regarding its potential status as a securities product, which others have linked it to Ripple – the FinTech company closely associated with XRP – offloading massive amount of XRP onto the markets each quarter.

Regardless of what the cause might be, The Cryptomist, a popular cryptocurrency analyst on Twitter, noted in a recent tweet that the recent drop marked a break below its 2018 support level, which could mean further losses are imminent.

“$XRP: Relieved I sold last week!  Support from August 2018 has now broken. However, I am adding some here as we potentially have a falling wedge here. Breakout would test previous support,” she explained while referencing the below chart.

As the week wraps up, it is unclear as to whether or not Bitcoin’s price action will guide that of Ripple’s, or if the crypto will operate on an individual basis as it continues to face intense selling pressure.

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