XRP Outbreak, Around The Corner – The $145 Level, Among The Top Predictions
XRP did not really have the best year in 2019 regarding price moves. The coin did not exactly see too exciting surges, but 2020 is expected to be a great year in terms of the price for this digital asset.
Ripple has been accused of this weak performance in terms of pricing for XRP, but the company denied that it’s involved. More than that, CEO Brad Garlinghouse said that there are more important elements that are worth checking out in a crypto project, besides the coin’s price.
These include the developments that are being made, the use cases for the specific coin, and, of course, adoption. And we have to admit that in these regards, XRP did have a successful 2019.
XRP in the crypto market
Anyway, in 2020, XRP was able to climb until it reached critical resistance levels between $0.28 and $0.29.
Analysts noted that the coin could be a matter of weeks away from is next major upwards push, and some serious FOMO from retail investors could fuel this.
At the moment of writing this article, XRP is trading in the red, just like other essential coins on CMC, and the digital asset is priced at $0.273845.
The online publication NewsBTC notes that “XRP is currently nearing the “spring phase” of a bullish Wyckoff accumulation pattern, which means that the next several months could lead the crypto to see some intense upwards momentum.”
The online publication mentions TraderXO, a popular crypto analyst on Twitter, who addressed this pattern in a recent tweet.
The analyst explained the fact that he is waiting for XRP to “push away” from its yearly open before increasing his position size.
“XRP – Patiently waiting for XRP to retest the yearly open and push away before adding further size. So far going to plan!” he wrote.
$XRP – Patiently waiting for XRP to retest the yearly open and push away before adding further size
So far going to plan! pic.twitter.com/0O6OBCt0it
— TraderXO (@TraderX0X0) February 8, 2020
A Twitter user commented, “Very nice setup, and definitely after all that pain since 2018 $XRP might do something.”
The XRP army of fans is really rooting for this coin, and among the top predictions involving its price is the $145 level, which is seen as a viable possibility in the future.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.