XRP’s move so far has perfectly adhered to the path toward a major pump since the last mention. The price has risen by approximately 28% since the end of September and there is more upside on the horizon.
The price stood at $0.27 with a market cap of $12 billion, hovering just below Ethereum. It is an optimistic hope that by the time these targets are half-achieved, there will be flippening and XRP will regain its throne as the second-largest cryptocurrency in the world.
Recap: Bullish Signals
Source: TradingView
- The price of XRP turned bullish as it has bounced off the two-and-half-year-old support [$0.21] recently.
- 50 DMA has been conquered and the 100 DMA was being tested at press time.
- MACD managed to climb above zero-line; simultaneously, RSI was slowly but steadily crawling into the bullish zones.
- Unlike other cryptocurrencies that bottomed by December 2018, XRP created a new low, the chances of it going higher are more as compared to other cryptos. Similar to how Litecoin had a temporary rally due to its halving.
XRP’s Time to Shine: The Major Pump
The XRP community has been relentlessly waiting for a pump since the end of 2017-18 rally. The hopes of $589 and ‘the Riddler’ kept part of the community going. The split community seems to have merged as they’ve come to terms with unrealistic targets.
Source: TradingView
Although the past performance is not indicative of future price actions, it can still act as a reference. The factors that played a role in the 2017 run-up are long-gone by now. So it is better to be pragmatic about expectations. XRP’s rise will be hindered by a major resistance zone as seen above, which ranges from $0.39 to $0.50. If there is a swift breach of this zone the price will have a breathing room and be free to move higher from here.
Targets
- $0.33
- $0.39 – $0.50
- $0.68
- $1.21
- $3.9 – $4
Depending on the magnitude of the momentum, XRP’s price will hit these targets accordingly. If the momentum is humungous the previously mentioned resistance zone will be taken out without a hitch. The move from this point onward would be easy to achieve once the bulls have completely taken over the third-biggest cryptocurrency.
