Ripple’s local token XRP continues its decline trend today. Despite this decline, Token continues to stay above $ 2 with critical support level. An analyst estimates that as long as this support continues, the price of the XRP Coin price may rise to $ 15 with an increase of 600 %soon.
Analyst estimates that the price of XRP Coin will rise to $ 15!
Crypto Analyst Crypto Elites believes that the XRP price can rise to $ 15 with an increase of 600 %. Analyst says that the XRP usually creates a ’round bottom’ formation that points out that the trend is about to rise.
Protecting the support level at 2 dollars, XRP also reinstates the ’round bottom’ line. According to the analyst, if this level is maintained, the XRP CoIN will rise to $ 15 with a gigantic increase of 600 %. At this point, Ripple will have reached a market value of about $ 1 trillion. This will enable XRP to rival Ethereum and Bitcoin under market domination.
XRP Price ChartThere are other rise signals!
In addition to analysts’ bull XRP price estimates, there are other signals that show that despite the latest downward trend of the token still has a rise appearance. John Squire, crypto influencer, said that a whale has recently carried 8 million XRP to an external wallet and that it has no intention of sales.
Moreover, Digital Asset Manager Grayscale has announced that XRP has the highest return since the beginning of the year among the ten largest crypto. This may increase the confidence of investors that XRP is a crypto with high purchase potential.
Bear scenario for xrp coin
Despite the estimation of the rise by analysts for XRP, various factors show that the price has not yet entered this path. One of these factors is the decline in the derivative market. Data from Coings show that XRP funding rates return to negative. This is an indication of more delegor entering the market. In other words, there is an increase in the number of traders that take positions against the XRP coin price because they expect it to fall.
In addition to funding rates, the XRP 4 -hour price graph shows that sellers are under control. RSI fell to 25, which shows that the token was overly sold. The ADX line is also rising, which is an indication that the current decline tendency is strong. If the adverse atmosphere persists, the XRP price may lose the critical support level of $ 2. This can lead to a decrease in the level of fibonacci in $ 1.81. In fact, if the sales do not keep this support as it concentrates, it is likely to have a collapse up to $ 1.
