- Ripple Price primed for huge rally
- Buyers once again in the market
- Developments in SEC case give a boost to XRP
The Ripple price has finally begun to make some considerable movement and managed to breach the $1 resistance barrier only to fall back slightly yesterday to around the $0.94 mark. However, it is well on its way to recovering that crucial price point and begin making strong gains after a period of flux.
Ripple has gained over 90% since its July 20 low of $0.524 and is exhibiting strong interest from buyers. It does also seem that the recent developments regarding the SEC case have also bolstered the Ripple price chances of further gains in the immediate future. It also seems that the passing of the Infrastructure Bill and its implications for crypto have not had that much effect on XRP.
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Short Term Prediction For Ripple Price: $1 Just Ahead And More Rises Expected
The Ripple price made a considerable gain on 11 August with the price rising by 20% to the $1.01 level from $0.73 on 9 August. This jump made it one of the best performing cryptos over that period and although it retraced slightly yesterday to the $0.94 level, it is once again on a roll.
A bullish thesis would have the Ripple price regain the $1 level imminently and continue to the $1.10 mark after which there is no significant resistance until the $1.50 level. This would represent a formidable 33% gain from the current price.
On the other hand, a bearish thesis would invalidate this prediction. If this were to occur, then the Ripple price would once again sink below the $0.90 level where it could erase all recent gains in a sell off. However, with the bullish sentiment in the market, this looks quite unlikely.
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Long Term Prediction For XRP: The Bull Run Has Started
After spending some months more between the $0.50 and $0.65 level, it does seem that Ripple is on the way to begin making considerable gains. It seems to have easily regained the $1 level and with its next resistance levels rather farther into the $1.50 mark, there is considerable room for growth.
After the minor pullback experienced yesterday, it seems that the major cryptocurrencies are now in place for a considerable upswing. A highly bullish case for the Ripple price could actually push the price up to the $1.71 mark which would be an astonishing gain of 70% from the current price level.
Long term predictions even have Ripple up to the $2.50 level by the end of the year if not earlier. Although some pitfalls do remain, this seems to be a logical prediction as the crypto market gather speed.
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Gerald Fenech
