XRP Eyeing a 175% Bullish Rebound, Claims Top Analyst

Ripple’s controversial native token XRP closed 2019 at a substantial loss, but according to a prominent analyst, the cryptocurrency is ready to break the bearish jinx in 2020.Crypto Michaël, a popular cryptocurrency analyst on Twitter, spoke about this on Wednesday, saying that the XRP-to-dollar exchange could undergo a massive trend reversal this year. The top crypto trader predicted a 175 percent rebound for the pair after taking cues from its historical trading data, as shown in the chart below.ripple, xrp, cryptocurrencyA historical pattern indicates XRP could attempt a strong pullback | Source: Crypto MichaëlHe pitted XRP’s current price action against a similar bout of trading seen between Q4/2015 and Q4/2016. Back then, the coin had undergone a deep downside correction, with its price dipping from $0.025 to $0.0041 in a 12 month period. Crypto Michaël also noted that XRP posted a similarly bearish move in 2019, now ranging in a potential reversal area.“Massive downtrends ready to be broken down,” he tweeted. “This could give a target for $XRP of $0.48, a potential rise of 175% from here.”The post appeared first on NewsBTC

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 68,660.40 0.35%
Ethereum (ETH) $ 2,426.19 1.80%
Tether (USDT) $ 0.99928 0.05%
BNB (BNB) $ 558.44 0.22%
Solana (SOL) $ 161.17 0.47%
USDC (USDC) $ 1.00 0.03%
XRP (XRP) $ 0.511381 1.06%
Dogecoin (DOGE) $ 0.167657 10.47%
Lido Staked Ether (STETH) $ 2,425.10 1.79%
TRON (TRX) $ 0.162431 1.52%