Ripple Price Prediction: XRP Spikes Higher, $0.9 Is The Next Target?

XRP, having failed to overcome the September resistance of $1.4, XRP began to fall again from November, and hit the bottom near 0.6 mark on December 4, with a maximum falling rate of 50%. But the price of XRP/USDT pair quickly bounced back and reached $ 0.8600 the very next day. At the moment, the XRP/USDT pair is moving upward again and hit the $0.85 mark.

 

From a fundamental point of view, there is still no unambiguous explanation of why Bitcoin as well as the entire crypto market collapsed on the night of December 04.

 

However, it is worth paying attention to the fact that the fall of the crypto market took place together with the fall of the stock market and the flight of investors from risky assets. The reason for this was the news about China's largest real estate developer Evergrande. The media reported that its founder was summoned to the government because of the possible bankruptcy of the company, which could create serious problems for the entire world economy.

 

Another reason was the new COVID-19 strain "Omicron", which could provoke panic in the markets. And finally, the statement by Fed Chairman Jerome Powell about a possible faster curtailment of the QE program was another impetus for the fall in prices in the markets.

 

So far, these are all only indirect reasons that explain such a strong decline in the crypto market. However, on December 16, the next meeting of the US Federal Reserve will take place, and the markets expect the regulator to speed up the procedure for curtailing incentives, and, perhaps, even increase the interest rate. And this means that the renewed increase in the markets so far can only be a correction in the beginning of a bearish trend.

 

Based on the technical analysis for the XRP/USDT, it suggests that increase is more likely in the coming days. Although, this does not exclude the possibility that this will only be a correction in the beginning of a bearish trend.

 

On the weekly price chart, we can see that despite a strong price drop a week ago, the price is still above the uptrend line, which means the buyer is gradually returning to the market. Also, between the price chart and the signal line of the RSI indicator, a hidden Bullish divergence has formed, which can also be another signal that the main Bullish trend has not ended yet.

W.png

 

On the daily price chart, we see that each subsequent low is higher than the previous one, which indicates that at least there is a chance that the price will continue to rise in the coming days. The signal line of the RSI indicator also crossed the support from the bottom up, indicating that the price is ready to recover from a strong fall. Another confirmation of growth may be the intersection of the MACD indicator lines, which seems to form a bullish cross.

D.png

 

First Major Support Level: $0.8151 

Pivot Level: $0.8360

First Major resistance Level: $0.8614

23.6% FIB Retracement Level: $0.8533

Demo

더 연습하고 싶습니까? 우리의 선물로 데모를보십시오

5000 USDT
연락 주세요.
twitter Telegram

Technical support: [email protected]

리스크 알림 이 회사는 고객에게 제공하는 금융 상품은 가격 차가 계약 (“CFD”) 과 기타 복잡한 금융상품을 포함합니다. 차가계약 거래는 높은 위험성을 갖고 있습니다. 지렛대가 고객님의 자금 상황에 긍정 또는 부정적인 영향을 미칠 수 있기 때문입니다. 차가계약 거래는 모든 투자자에게 적합하지 않습니다. 투자 자본의 완전 손실이 발생할 수 있기 때문입니다. 고객님이 감당할 수 있는 범위를 초과 투자하지 마세요. 복잡한 금융 제품 거래를 시작하기 전에 리스크에 관한 모든 내용들을 반드시 읽어보십시오.

© 2019 Bex500. All rights reserved.

로그인
구글 검증

비밀번호 잊었나요? Google 인증 검색

아직 계정이 없나요?즉시 등록
비밀번호 찾기
60초 후 다시 가져오기
얻다
계정 만들기
60초 후 다시 가져오기
얻다
계정이 있습니까?바로 로그인