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The Ripple price seems to be recovering from its recent retracement of late although it is still dependent on the Bitcoin price to move. Having said that, XRP is exhibiting considerable strength at around the $0.70 level. In fact after closing at around $0.65 on 2 July, the XRP price climbed to the $0.695 level yesterday and looks well poised to reach the $0.70 level once again. After that, an assault on the $0.76 neckline Is expected. If a bullish close above that level is confirmed, then XRP should continue to climb.

Ripple Price Short Term Prediction: Climb to $0.76 remains crucial level

xrp price

After having declined spectacularly from its 2021 high of around $1.90 in early May, XRP continued descending with the low of $0.51 reached on June 22. There has been a considerable rebound since then with the price rising to the $0.71 level on 29 June. That represents a 45% rise over a 7-day period which is considerable. Quick eyed investors would have made a good buck with this gain over a short period of time. The Ripple price continues to offer short term gains for judicious retail investors with the variation between $0.55 and $0.76 seeming the most likely scenario over the next few days.

The larger market cap coins such as Bitcoin and Ethereum also seem to be moving into positive territory with the latter also gaining considerably over the past few days. Institutional investors once again seem to be piling into the larger crypto caps and XRP is no exception. If the price manages to close above the $0.76 neckline, then it should theoretically continue move up to test the next resistance level of $0.85.

XRP long term prediction: How soon is the $1 level again possible?

As with the vast majority of cryptos, the Ripple price crashed spectacularly after 18 May and continued taking a beating in the June 22 rout. It did recover fairly quickly with a 45% rise over 7 days and is well supported at the $0.65-$0.70 level. The bullish thesis is that the price should close at $0.76 and then continue a positive ascent to the $0.85 where a close above that would begin testing the $0.90-$1.00 mark.

However, a break below the psychologically significant $0.60 level could invalidate this bullish these and a further descent would take place. The bearish scenario could see the price revisit the $0.51 June 22 level and descend further to the $0.41 level – a drop of almost 80% from May’s high. With the current level of buying activity, that scenario seems very unlikely.