The Post XRP Price Prediction: Here’s How XRP HODLers Can Reap Gains, Here’s Entry & Exit Levels appeared first on Coinpedia – Fintech & Cryptocurreny News Media | Crypto Guide
Crypto investors are in distress as the crypto market is still under bearish pressure for two weeks. Investors found a sign of relief yesterday after a few of the cryptocurrencies were in the recovery phase, but that couldn’t last long as Bitcoin, along with Ethereum and other major altcoins rallied back on a red candle.
Like Ethereum, the main altcoin has fallen, as have most altcoins, including XRP, the seventh-largest cryptocurrency by market cap, is slowly pulling away from its bull run.
XRP price is about to form a wedge-shaped pattern
Last month, XRP price failed to reach $1 and now Ripple’s token is holding onto recently marked lows of $0.76 after XRP was rejected from $0.912 on March 25 before falling.
At press time, XRP is trading at $0.7627 with a decline of 2.36% in the last 24 hours. Currently, the price of XRP appears to be forming a wedge shaped pattern and this pattern is also known as the Ending Diagonal as this pattern forms the last pattern before the trend reversal occurs.
The strong Fibonacci level of XRP sits at $0.67, so early buying is not advised. The best thing to do now is to set a buy stop at $0.795 and the breakout at this level may indicate the final pattern.
Also Read: What’s Keeping Ripple’s XRP Price From Crushing $1, How Long Will It Consolidate Below $0.8?
Moreover, according to the values of the relative strength index of XRP, the current price of XRP is considered to be oversold, which will further influence the bullish reversal pattern. The immediate support for the XRP price lies at $0.69 and if the currency manages to break this level, Bears could further drag the price towards $0.64, which will cause the price of the currency to decline by 15%.
