- Ripple price prediction is currently in a seesaw trend with little clarity
- The sharp uptrend followed by downtrend confuses traders
- XRP/USD trades at $0.3863 and within the Bollinger Bands
- Ripple traders fear a pump-and-dump scheme is underway
Ripple price prediction has become contradictory, with the price making sharp moves on either side. A few days ago, the price jumped to $0.7550 from a low of $0.2680, only to return to $0.3877. Such an abrupt move has left a bad taste in the mouth of XRP traders. The sharp uptrend and the subsequent downtrend has given rise to rumors that there might be a ‘Pump-and-Dump’ scheme in the works.
The seesaw action on the hourly charts further fuelled speculations that all is not well in the XRP realm. The confusing price action has so far left both bulls and bears hurt in the wake of rising XRP trading activity. At the time of writing, the wild swings are somewhat muted. The price is trading within a tight range of $0.4145 to $0.3500.
The price action may witness another upswing if the technical indicators are to be considered. The RSI and MACD are poised for a breakout since the price has consolidated after the downtrend from the pumped-up highs. If this happens, the rebound can take the price away from the Bollinger Bands middle-zone and towards the $0.5416 high in the short term.
Ripple price movement in the last 24 hours – XRP/USD stuck in a tight range
There’s no denying that XRP traders are facing a peculiar situation in the Ripple price prediction. The price has repeated the seesaw movement once again after a gap of a few days. The fall from $0.7550 to $0.3400 was sharp and saw the long-positions being closed off on a large scale. The price is consolidating after the downturn and trading within a minimal range of $0.4045 and $0.3744.
You can find more info here. Similar thing happened to TRX yesterday and the entire pump retraced really quickly. Either way be careful. https://t.co/qfrmSTtiE2
— Larry Cermak (@lawmaster) January 30, 2021
The selloff has prompted the traders to avoid the exciting price levels and enter when the price is suitable from a technical viewpoint. At present, the Ripple price prediction seems to have found a decent support near the $0.3710 level. The small candles are mostly ‘Doji,’ and the traders are unable to decipher the direction. Large traders can take advantage of the confusion prevailing in the market to swing the price wildly.
A bounce in the price can take the XRP/USD towards $0.4395 resistance. Any bump higher can attract selling since the buyers are unlikely to trust the current scenario’s uptrend. The Ripple price prediction is facing trust issues, and price may bounce back within the Bollinger Bands. Until the price closes above $0.4500 resistance successively for the next few days, traders won’t be taking any chances.
XRP/USD 4-hour chart – Small range makes XRP/USD picture hazy
The upside seems to be capped near the $0.5005 level, which poses an additional resistance challenge to the bulls. The break below $0.3689 will bring more bearish price action into the picture. The previous low of $0.2639 may be revisited if the selling pressure intensifies.
The Ripple price prediction does also face dumping in case the ‘pump-and-dump’ fears revisit the charts. Bears can be quick to discard the XRP/USD pair even at lower levels. There can be a challenge to predict a bottom in such a scenario since XRP already faces many legal challenges, and the entire picture could be hard to decipher.
The RSI is currently hovering near 49, which signifies more confusion between the bulls and the bears. Most of the other indicators, including MACD and moving averages, aren’t helpful in understanding Ripple price prediction. The MACD is a flat line with no imminent breakout on either side. The recovery from current bear levels seems like an uphill battle until the Ripple price closes above $0.5058 resistance.
Ripple price prediction conclusion – XRP/USD faces trust issues
Traders are awaiting the dust to settle in the wake of a ‘pump-and-dump’ environment. The sellers are awaiting another round of selling near the $0.4050 region. The 50-day simple moving average at $0.3627 is providing support to the price. The 200-day SMA below will further help absorb the selling pressure.
The current sideways price action is likely to continue until bulls gather enough buying momentum to take the price near higher resistances. The technical indicators are all pointing towards a muted price movement in the next few hours. Ripple price prediction needs to settle above $0.4 level to start the next bull run.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
XRP – Assessing the odds of it climbing past $5 in 2022
It has been a strong year for the collective crypto-market. Any asset in the top 10 would agree with this assertion, but this wouldn’t be the case for XRP. While on the rankings it remains 7th, its April 2021 high of $1.966 is yet to be tested again.
From a long-term perspective, every top asset managed a new ATH over the last few months. This list includes Bitcoin, Ethereum, and Cardano. For XRP, however, its 2017 high still stands.
Consistent momentum hasn’t been on its side after the SEC fiasco. Alas, structurally, its market might be undergoing a massive shift in the coming months.
However, it is important to note that the direction of XRP’s price will still depend on several external factors. The following article will outline the bullish parameters which may trigger its rally.
XRP to return to the top 3?
At press time, XRP was ranked 7th on the charts with a market cap of $52 billion. Binance Coin was at 3rd with a valuation of $82 billion.
Taking the example of the 1-day chart – XRP has been consolidating strongly in the liquidity pocket (highlighted in the chart) over the past month. With a prominent symmetric triangle forming at press time, the potential to breach and rally towards its immediate resistance of $1.40-$1.50 is fairly high.
One confirmation can be attained from the fact that lower trading volumes have been met by declining prices, which means any trading volume spike would automatically trigger an incline.
The monthly chart for XRP, considering it explodes in the desired direction, seems to be structurally targeting a massive breach of $10 on the chart.
Now, while such a movement is almost unfathomable, there may be a few narratives slowly swinging in XRP’s favour.
Coinbase, SEC, and Warren Buffett?!
SEC started reeling in the pressure on Ripple late last year and in December 2020, it filed an action against the organization and two of its executives. XRP’s value tanked during a collective bullish period and then, Coinbase announced its delisting on 19 January.
Its been 10 months since the lawsuit was filed and until now, Ripple has not been found guilty. Over the past couple of months, the momentum has shifted towards Ripple. In fact, the SEC has been ordered by Judge Sarah Netburn to offer clearer explanations as to why the Howie test applies to XRP, and not Ether and Bitcoin.
Jeremy Hogan, a vocal attorney in the XRP-SEC lawsuit, stated,
“UH-OH. The SEC is going to be forced to admit that there is nothing in an of these contracts that created an expectation of profits by purchasers of XRP. That’s a big problem for the SEC.”
With positive developments slowly surrounding XRP and Ripple, a part of the community believes that it is only a matter of time before XRP is re-listed on Coinbase.
While both these narratives directly impact the valuation of XRP, the Warren Buffett angle might be one for the long term.
According to reports, Berkshire Hathaway has invested $500 million in Brazil-based NEO bank, which is an existing RippleNet member utilizing its ODL services.
It can be speculated that Buffett saw some form of intrinsic value in Ripple’s ODL remittance services. This may have led to this massive investment.
Don’t count your chickens before they hatch
Regardless of the enticing narratives, it is essential to understand that such price jumps (if only) for XRP might come over the next few months and quarters, and not weeks.
It is still important to understand market dynamics before investing in an asset that has juggled market and legal volatility for over a year. Hence, as always, Do Your Own Research because this isn’t investment advice.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Pioneer crypto to retrace briefly while altcoins go higher
- Bitcoin price might retreat to $56,000 as investors continue to book profit.
- Ethereum price also prepares for a sub-$4,000 pullback.
- Ripple price edges closer to a breakout from a bullish pennant pattern.
Bitcoin price continues to move sideways above a crucial psychological level. As long as support holds, BTC is in no trouble, however, if it breaks lower, it will likely drag Ethereum and Ripple along with it. Although this descent is likely to play out in the short term, it may be required to start a second leg-up.
Bitcoin price needs to correct
Bitcoin price is stuck producing lower highs and lower lows since rolling over at the October 21 $67,016 swing all-time high. While this pullback is currently stabilizing above the $60,000 support level, a breakdown could exacerbate the downswing and knock BTC down to the liquidity area, ranging from $52,595 to $56,004.
A dip into this zone will provide an opportunity for the sidelined buyers to jump on the bandwagon for the next leg-up. It will also allow investors to book profits, creating a double pressure of sorts. When this development reaches an inflection point, BTC will trigger a new bull run.
As for the upside, Bitcoin price will first encounter the $70,000 psychological level. Clearing this barrier will open the path to retest the 161.8% trend-based Fibonacci extension level at $77,525, a new all-time high.
BTC/USD 1-day chart
While things are looking up for the big crypto, a breakdown of the liquidity area’s lower limit at $52,956 will put Bitcoin price in a tough spot. While this move does not invalidate the bullish thesis, it will delay it.
In such a case, BTC might revisit $50,000 before restarting the uptrend.
Ripple increases stronghold in Middle-East with on-demand liquidity deployment
- Ripple has partnered with financial services company Pyypl to facilitate ODL using its native XRP crypto.
- This will allow for instant and low-cost cross-border payments while eliminating the need of costly pore-funded accounts.
San Francisco-based blockchain startup Ripple is increasing its stronghold in one of the strongest remittance corridors – the Middle East and North Africa (MENA). On Monday, October 25, Ripple said that it is preparing for the first-ever in-market On-Demand Liquidity (ODL) deployment for the Middle East.
For this, Ripple has partnered Pyypl, an international blockchain-based financial services tech company. This on-demand liquidity deployment will leverage Ripple’s native cryptocurrency XRP. It will further help in facilitating instant and low-cost cross-border payments while eliminating the need for costly pre-funded accounts.
Pyypl noted that this is part of the company’s larger mission to enable digital payments for a billion smartphone users in Africa and the Middle East. As said, the OLD deployment will help Pyyl to solve one of the biggest issues of pre-funded accounts as seen with traditional cross-border payments.
Pyypl’s co-founder and CEO Antti Arponen referred to these legacy accounts as “inefficient use of capital”. He further noted that unlocking these previously trapped funds can help to better grow and scale the businesses. Arponen said:
We’re excited to be Ripple’s first partner of choice to bring the deployment of ODL to the Middle East. This enables our ever-increasing number of users to deliver remittances instantly and cost-effectively. We’ve also reduced our inefficient use of capital through ODL, and look forward to an exciting rollout of its capabilities across the region.
Unlocking massive opportunities in the MENA market
The traditional players in cross-border payments have been pretty laggard in implementing innovative solutions. Ripple is solving the trillion-dollar challenges of this industry using its ODL services.
Besides, Ripple notes that the Middle East caters to two of the world’s three largest remittance corridors with Saudi Arabia and the UAE. Last year in 2020, the Middle East handled combined payments worth $78 billion. Besides, the Middle East has made a rapid transition to digital in the last year as it prepares for the upcoming FinTech revolution. Brooks Entwistle, Managing Director of RippleNet in APAC and MENA said:
MENA continues to be a critical region for Ripple thanks to our outstanding roster of customers, a welcoming regulatory environment and a regional focus on the needed improvements in the current financial system. The establishment of yet another first-in-market ODL launch demonstrates the understanding that digital assets will play a central role in the future of global payments. We are delighted to partner with forward-thinking companies, like Pyypl, to ensure we can continue to break the status quo in the current global financial system to continue delivering the best experience for customers.
Before entering the MENA market, Pyypl has already started its ODL services in the Philippines. Pyypl holds the license from ADGM’s Financial Services Regulatory Authority.
The announcement has not had a major impact but Ripple’s XRP continues to trade just above $1.10 after gaining around 2 percent in the last 24 hours.