RATE Group | Top Crypto Analyst: XRP May Have Bottomed, $0.77 Possible
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Top Crypto Analyst: XRP May Have Bottomed, $0.77 Possible

16 May Top Crypto Analyst: XRP May Have Bottomed, $0.77 Possible

Posted at 21:12h in Cryptocurrency News by

Quick take:

  • XRP/USD has been in a falling wedge since September 2018.
  • $0.12 – $0.15 support zone held in March 2020. This is the same support zone seen in mid-2017 before the massive bull run that followed.
  • If the falling wedge resolves, XRP could go as high as $0.77.

Popular crypto analyst, @MagicPoopCannon, has published his most recent analysis of XRP. In the detailed analysis, Magic notes that XRP has been in a clear falling wedge since September 2017. Additionally, during the Coronavirus crash of mid-March, the remittance coin held the crucial support level of $0.12 – $0.15 which was last experienced by XRP in July 2017. XRP would consequently end 2017 on a high note with its bullish momentum spilling over into January 2018 where it experienced its all-time-high value of $3.84.

Below is a screenshot of the daily chart Magic used in his analysis of XRP.

Top Crypto Analyst: XRP May Have Bottomed, $0.77 Possible 8
Magic’s analysis of XRP courtesy of Tradingview.com

$0.77 Achievable for XRP But…

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