Crypto Analysis Platform Shares Its Predictions for XRP’s Price
CoinEdition
Published Apr 18, 2023 08:22AM ET
Crypto Analysis Platform Shares Its Predictions for XRP’s Price
- Analysis platform EGRAG CRYPTO tweeted some price possibilities for XRP for the coming days.
- It is possible for XRP’s price to rise as high as $0.58 or drop to $0.37, according to the platform.
- At press time, XRP is trading at $0.5167 after a 0.47% price increase.
The crypto education and analysis platform EGRAG CRYPTO (@egragcrypto) took to Twitter earlier today to share some price possibilities for Ripple (XRP) in the coming days. The platform decided to take a closer look at the Regression Channel and the Bollinger Bands on XRP’s charts to get a better understanding of what to expect from XRP.
XRP / US Dollar 1D (Source: Egrag Crypto)
With regards to the Bollinger Bands, EGRAG CRYPTO believes that if XRP can close above these bands, the remittance token could possibly target a higher price of $0.58. Furthermore, XRP’s price bouncing from the top end of the Regression Channel could also prove to be a bullish move for XRP as it indicates that bulls are eager to not lose $0.50.
EGRAG CRYPTO did, however, mention that $0.48 could still be a possibility for XRP as long as Bitcoin (BTC) is ranging, but added that they do not believe the altcoin will revisit this level. It is also still possible for XRP to drop to between $0.43 and $0.37, but EGRAG CRYPTO believes that this could only happen if BTC tests $25k to $27k.
XRP price (Source: CoinMarketCap)
At press time, CoinMarketCap indicates that XRP is trading at $0.5167 after a 0.47% price increase over the last 24 hours. XRP was also able to strengthen against BTC and Ethereum (ETH) by about 1.10% and 0.35% respectively during this time. The crypto is, however, still down by 1.45% over the last week.
Currently, XRP’s 24-hour trading volume is in the green zone, and stands at $928,746,477 after a more than 11% increase since yesterday. With its market cap of $26,728,113,941, XRP is currently ranked as the 6th biggest crypto in terms of market capitalization.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The post Crypto Analysis Platform Shares Its Predictions for XRP’s Price appeared first on Coin Edition.
See original on CoinEdition
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.