- XRP price prediction expects potential breakout to the upside
- Bears seem to remain in control
- Bullish momentum building as a falling wedge pattern reaches breakout point
- Volatility decreasing as price begins to increase
- Breakout to the upside seen as article comes to the conclusion
As predicted yesterday, XRP price hit $0.45 and as low as $0.43 in the last 12-16 hours. XRP price seems to be reacting positively as Bitcoin (BTC) begins its growth beyond $20,000 finally.
XRP price has been seeing signficant descending patterns since entering December, but the change in BTC price has revitalized XRP as it rises from the ashes of $0.45 to almost $0.5 at the time of writing.
Currently, XRP price sits at $0.498 as the market blows up – up over six percent on the day opening price.
Use the oscillator below to check what role XRP might play in your portfolio.
XRP price prediction: 1-Day chart overview
The 1-Day chart shows a steady decline in XRP price as volume and market activity remains bearish. This comes as expected following the XRP dump after the Flare token airdrop on the 12th of December 2020. This ‘dumping’ of XRP saw prices touch $0.43 in the last 24 hours.
The volume remains moderate, but all anticipation of XRP price has been solely based upon the activity of Bitcoin breaking the $20,000 barrier. As of this time, BTC price remains above $20,200.
The Relative Strength Index (RSI) indicator reaches downwards on the 1-Day chart towards the lower boundary of 30. If this continues, buy pressure will begin to build and we should see XRP prices begin to recover.