Ripple’s native token XRP is hovering around the $0.47 mark after briefly re-testing $0.50. The cryptocurrency is aiming to reach $1 but the market conditions remain unfavorable for a rally stunting its growth. The Ripple vs SEC lawsuit is also making its price dwindle as the outcome of the case is yet to be decided. The uncertainty is what’s making investors nervous about XRP’s prospect and it is reflecting negatively in the market.
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XRP Could Reach $9, Claims Cryptocurrency Analyst
Pseudonymous cryptocurrency analyst CoinsKid evaluated XRP’s price chart in a recent video and gave out a bold prediction. According to the analyst, XRP could breach its ATH of $3.40 and reach a new all-time high of $9. The analyst highlighted the indicators that precede a rally for the altcoin.
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He explained to his 270,000 subscribers on YouTube that a “crossover between a 10 and 20 Exponential Moving Average (EMA) is usually followed by a price rally” in the asset. He stressed that in 2017, its 10 and 20-month EMAs crossed the golden cross kick-starting a price rally. The crypto analyst noted that XRP spiked 720% back then and now showcases the resemblance of another golden cross. The move could reignite another price rally and could take XRP towards $7, forecasted CoinsKid.
The above chart presented by the analyst highlights another golden cross similar to its previous rallies. The analyst has used these indicators to forecast that Ripple’s native token could skyrocket in price.
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You can watch the entire price prediction for XRP from CoinsKid below for a better and more in-depth understanding.
At press time, Ripple’s native token was trading at $0.47 and is down 2.6% in the 24-hours day trade. It is also down nearly 86% from its all-time high of $3.40, which it reached in January 2018.
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