Cryptocurrency Ripple Could Experience 50 Percent Rise

Cryptocurrency Ripple Could Experience 50 Percent Rise

In the past few days, almost all cryptocurrencies have been experiencing visible increases. One of the cryptocurrencies that accompanied the increase, Ripple (XRP), which ranked third in terms of market volume… XRP managed to reach $ 0.20 with the mentioned increases. However, when looking at the graphs, it is seen that he encountered resistance at this point. Analysts say they do not believe that this resistance level that XRP has faced may remain strong for a long time. Because when looking at the technical indicators, it is stated that XRP has given strong signs of increase for the coming days. When we come to where the said upward trend can move the XRP price, an analyst says that the price of the cryptocurrency may increase by 50%. This increase means that a parabolic movement may occur after the last decreases. In addition, according to the news of Newsbtc, it is stated that both Bitcoin and the crypto market, in general, started to follow a straight line and the reason for this was the resistance that BTC encountered in the middle of $ 7,000. As is known, Bitcoin pioneers big altcoins, especially XRP and Ethereum (ETH), in price movements. Therefore, the direction of both Ethereum and XRP price seems to depend on the direction of the price movement of BTC, among other factors. According to analysts, the increase of XRP above $ 0.20, then consolidating just below this level and showing movements to overcome this resistance level are interpreted as new signs of increase for the cryptocurrency. If XRP exceeds the $ 0.20 level, it is stated that the next high levels are the spots seen in February. On the other hand, analysts say that XRP will strengthen not only against the dollar but also against BTC. For example, Bagsy, one of Twitter's famous analysts, says that XRP will rise in the Bitcoin trading pair. At the time of writing, XRP was trading at $ 0.198 and continues to strive to see above $ 0.20.