Ripple XRP is able to rise to a historic high, despite the not-so-positive situation in 2019. The digital asset Ripple XRP was able to gain a significant momentum during this month, which gave good support. In the short term, analysts say the Ripple XRP will trade slightly above the critical level. However, there are also many factors for Ripple XRP, which show that cryptocurrency is able to rise to historic highs.
Ripple XRP is able to rise to historic highs: Details
Ripple XRP is able to rise to historic highs, as indicated by certain technical factors. Analysts are still monitoring the reaction to a key technical level for the Ripple XRP. Over the past week, the Ripple XRP managed to bounce off the low. In the short term, as the well-known and respected cryptocurrency analyst Jacob Canfield emphasizes, Ripple XRP needs to stay above the critical level of support. If this fails, then there is a risk of new lows for the Ripple XRP. However, the likelihood of a fall in the Ripple XRP is not high. Leading analyst at TradingView TradingShot indicated that the Ripple XRP digital asset could return to its all-time high. The expert pointed out the similarity of price movement graphs between two periods: from December 2014 to March 2017 and from December 2017 to March 2020.
The specialist also emphasizes that there is a bullish moving average golden cross, its prolongation by LMACD, as well as several other technical factors. If the factors pointed out by TradingShot coincide, then the Ripple XRP may soon aim to move to new historical highs above $ 3.50. An important factor in this is the situation in the digital asset market. In the event that a massive increase in the cost of other cryptocurrencies begins, an increase in the price of Ripple XRP will be even more likely.
However, if this does not happen, the optimistic forecast of the TradingShot expert regarding the Ripple XRP can really be justified. Thus, by spring, Ripple XRP proponents can expect positive news. Moreover, Ripple continues to work on integrating XRP into various projects. Ripple’s strategies are progressing quite well, so the growth of XRP is obvious.