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Ripple technical analysis and strongest Ripple price prediction

Ripple technical analysis and strongest Ripple price prediction

In this post we will going to see Ripple Technical Analysis and will give strongest Ripple Price Prediction which is based on advanced technical analysis of Ripple and its past trends.

Introduction:

Explanation of Ripple and its significance in the cryptocurrency market-

Ripple is a decentralized cryptocurrency. It was created for fast and secure transactions. It is also used for international payments. It was created in year 2012 and its crypto token is XRP. It works on blockchain network which helps in instant and low cost international transactions. These are some positive points which attracts big financial institutions and payment provider.

XRP is the third largest cryptocurrency after Bitcoin and Ethereum by market capitalization. Ripple’s technology uses a consensus method to validate transactions.

This company also faced criticism and legal challenges over its centralization and the way it has distributed and sold XRP. Ripple has built connections with significant banks and financial organisations, which has improved its reputation and given it a competitive edge.

Current market situation of Ripple-

As of 7th Feb, 2023, the price of XRP is $0.3972 with a huge market capitalization of $20.179 Billion. It is the third largest cryptocurrency by market capitalization. The total supply of XRP is fixed at 100 billion. It has a consolidate performance over past few months. Because of legal issues.

Ripple Technical Analysis:

In this part, we will see the technical analysis of Ripple.

Understanding the basic concepts of technical analysis-

Many person ask me about Technical Analysis on different social media. Some of them thought that is very very difficult to understand and learn. But, trust me it is not too much tough to learn, yes it take some time to be confident in this. So be with me with this article, and you will learn some important.

In layman language, we can say that is just an analysis to predict the money market. Technical analysis is a method to analyse the market activity using past data, chart patterns, candlesticks and different indicators. Many of technical analyst use historical price data and volume data to identify the market trends. The main aim of technical analysis is just predict the market trends and make perfect trading decisions to make huge profits.

Technical analyst use various indicators and tools like and study charts. Indicators like RSI (Relative Strength Index), Volume, MACD (Moving Average Convergence Divergence), MA (Moving Averages), Bollinger Bands etc. are used. To make investing decisions, technical analysis should be combined with other types of analysis, such as fundamental analysis.

The main principles of technical analysis include:

  1. Market Trend: To know the direction of market we have to know about past market trends after that only we can predict the future price movement.
  2. Support & Resistance level:
    • Resistance: It is defined as a level where sellers are present. They sell the their assets that leads to increase in circulating quantity and price falls down after that level. If any resistance level breaks with upward movement then, we can expect a good upside movement in that.
    • Support: It is defined as a level where buyers are present. They just buy the assets and this leads to decrease in circulating quantity and price gradually increase after that level. But in case, if support level breaks with downward movement then, we can expect a large downside movement in that.
  3. Chart Patterns: Technical analysts use chart patterns, such as head and shoulders, flag and pennant patterns, and trend lines, to make predictions about future price movements.
  4. Indicators: To increase the price credibility of their predictions, some technical analyst use chart patterns like Trend lines, Head and Shoulders, Ingulfing pattern, Harami Patterns, Flag & Pennant Patterns.
  5. Volume: Technical analysts also look at trading volume to confirm trends and indicate potential trend reversals.

Analysis of the current chart patterns of Ripple and its trend:

As of now, its current market price is $0.3840. On 4 hours time frame, its first support at $0.3770 and first resistance is at 0.4277.

Strongest Ripple Price Prediction:

Now we’ll going to discuss the price prediction of Ripple (XRP). It is very difficult predicts to the price of any cryptocurrencies. But we can predict the price by advanced technical analysis and by studying the candlesticks and chart patterns.

Read Also: Solana price analysis and Solana price prediction, latest news

Ripple Price Prediction 2023-

According to its previous chart patterns and advanced technical analysis, the expected high of Ripple is $1.4592 and it can slip down at $0.3087(Expected).

Its Current price is $0.3650

Maximum ROI (Return On Invest) can be 300% from now.

MonthMinimum PriceMaximum Price
January$0.3087$0.4277
February$0.3374$0.4000
March$0.3899$0.4619
April$0.4023$0.4713
May$0.4526$0.5256
June$0.5031$0.5789
July$0.5522$0.6282
August$0.6123$0.7003
September$0.6726$0.7645
October$0.7537$0.8419
November$0.8392$0.9465
December$0.9368$1.4592

Why are we bullish in this year?

We are expecting that the Ripple case will be ended within next 2-3 months. And the verdict will be in the favor of Ripple Labs Inc, that’s why we are bullish in this year.

You all are aware of XRP case. If no then we will tell you.

In May 2020, the lawsuit was filed in California against the company “Ripple Labs Inc”. Before knowing the reasons behind this, we have to take a look on past of XRP. Several Years ago, the founders of this company Ripple Labs had raised funds in year 2013. And according to the SEC (the United States Securities and Exchange Commission), when this company held its IPO (Initial Public Offering) to raise funds was unregistered security at that time. That’s why, the SEC filed suit against Ripple Labs and its current and previous CEOs in 2020.

According to the complaint, SEC mentioned that Ripple Labs raised funds by selling its native token XRP in unregistered security offerings in the United States of America and also in the world. And also, Ripple gave billions of XRP tokens to the different crypto exchanges for non-cash activities like market-making and labor.

The legal lawsuit alleges that Brad Garlinghouse, the current CEO of Ripple, and Chris Larsen, the co-founder and former CEO of Ripple Lab, influenced personal unregistered XRP transactions totaling over $600 million as well as structuring and promoting the XRP sales used to sustain the company’s business. In addition, the defendants violated the registration requirements of the federal securities laws by failing to register their XRP offers and sales or qualify for any exemption from registration.

Lawyers for Ripple argued that the SEC never informed or warned the company. The American regulatory body also acknowledged that Ripple was not informed that XRP might be considered a securities.

Because of this, Ripple thought the SEC had a bias when it came to treating virtual currencies like XRP as securities. If this is proven to be accurate, the commission’s credibility and authority will both be compromised.

What we are expecting as result:

It is very difficult to find who will win the SEC vs Ripple case. Also, Ripple has an edge because Ripple successfully forced the SEC to hand up papers while SEC was successful in get a postponement of date.

And we are expecting that, this case will last by May this year. And the result will go in the favor of Ripple Labs. That’s why we are very much bullish in this year.

Ripple Price Prediction 2024-

According to its previous chart patterns and advanced technical analysis, the expected high of Ripple is $2.0059 and it can slip down at $0.9546(Expected).

Its Current price is $0.3650

Maximum ROI (Return On Invest) can be 449.5% from now.

MonthMinimum PriceMaximum Price
January$1.2353$1.5235
February$1.1236$1.2362
March$0.9546$1.0982
April$1.0028$1.0987
May$1.0782$1.4562
June$1.2496$1.3481
July$1.2223$1.6527
August$1.5486$1.7560
September$1.6129$1.6360
October$1.6023$1.7962
November$1.6236$2.0059
December$1.8579$1.9657

Ripple Price Prediction 2025-

The crypto experts and analyst have analyzed the prices of XRP and their fluctuations of past years. And they are expected that its maximum and minimum prices will be $2.9561 and $1.2657 respectively.

Read Also: Which crypto has best future in 2023?

Its Current price is $0.3650

Maximum ROI can be 719.89% from now.

MonthMinimum PriceMaximum Price
January$1.7851$1.9568
February$1.5458$1.8458
March$1.6214$1.6956
April$1.2657$1.4689
May$1.4581$1.5962
June$1.4989$1.7981
July$1.6953$1.8973
August$1.7986$1.9964
September$1.8127$2.0880
October$2.0012$2.3579
November$2.2571$2.6547
December$2.5987$2.9561

Conclusion:

Overall, Ripple is a promising blockchain platform that offers instant and low cost international transactions.

Note: If You want to buy Ripple without wasting any time then open your account on Binance and start investing.

Steps:

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