XRP will soon hit ~$1, if the much-anticipated ‘alt season’ arrives

  • 01 July 2019, Monday, 10:30

Altcoins suffered a massive blow after Bitcoin rose parabolically during the second week of June. The altcoins, including XRP, broke strong supports that were holding up for a very long time.

XRP/BTC

As seen in the chart below, XRP broke the support at 4034 SATs. This support had held up the price of XRP since December 2017. However, the recent pump of Bitcoin caused XRP to break this level and dip further below.

As Bitcoin has cooled off its rally, there seem to be a lot of people in the cryptospace who are expecting another alt season. Considering the dip that all altcoins have witnessed, it doesn’t seem too far away.

XRP/USD

The XRP vs. USD chart seems to have turned bullish as an ascending triangle pattern has formed, the upside breakout for which will have a higher chance.

The volume also shows a declining trend, further validating the ascending triangle pattern.

Prediction

The price of XRP against BTC will pump soon enough and when that happens, the price will face resistance at 4034 SATs, which will be broken easily. XRP will easily test the 0.786 fib-level at 5843 SATs. It may even test 0.618 fib level, if the price explosion does occur as it did during September 2018.

The price of XRP, in terms of USD, will breakout to an immediate resistance of $0.6421. Post this point, if the momentum exists, the price will further test $0.97005, a point which was also tested in May 2018.

Source: ambcrypto.com