XRP Price Will Soon Break $0.27 Resistance, But Can It Escape The Massive Downtrend?

XRP Price Will Soon Break $0.27 Resistance, But Can It Escape The Massive Downtrend?

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Ripple’s price has been unchanged for a long time – it’s been around $0.25 for weeks. When will the situation change, and how exactly? tradingview users have interesting opinions: read their XRP price predictions and watch price charts.

History gives glues

According to user carltonzone, XRP has bottomed out. There isn’t much room to fall beyond where we sit, because $0.25 seems to be a strong historical support level. Looking at the overall chart, it would seem that this would indeed be the bottom if we don’t give back the consolidation base that took place before the last major bull run that peaked on January 3rd above $3. If there aren’t any external influencing factors messing things up, the natural progression of this price should be upwards from the previous baseline.

IF we do fail at $0.25, it looks like the next level of support would be at $0.22. But anything lower than $0.22 seems to be too much. Whatever the case, it really doesn’t matter for those who are in this for the long haul. It might even be the motivation to double down.

Right now, we should focus on the 4.236 red fib circle boundary that we are approaching. Could this be the point where we pivot and start the road back up the mountain? It’s not clear yet. But the Big Green 4.236 is also up ahead of us, and it could turn out to be a major pivot point also. This is definitely not an exciting time to be entertained by the price action, but the patterns look very interesting.

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XRP in the consolidation area

If we look at the daily chart, we will see that the trend remains to respect descending channel, with no clear signs of reversal. Stochastic RSI showing momentum remains in favor of bears, although support looks to have been found inside our $0.24-$0.25 zone. Price has reached a critical point, and we should expect a radical move soon. A look at our smaller timeframes may show us some early signs of XRP’s next move.

On the 4-Hour chart, we see shifting over to the pattern timeframe we see price starting to consolidate between $0.2510 & $0.2550, Stochastic RSI showing momentum in favor of the bulls with no signs of slowing down. A 4-hour close above/below these levels indicates the next move, so kid-martin95  expects a move towards the upside. Support at $0.2500 has been tested multiple times and has not been broken, on September 7th we saw price make a small push towards $0.2650 from $0.2500. XRP is now retesting this support level, and looking to makes its next move towards the upside, which might be at $0.27 level.

Will the trend change?

While most log charts on XRP are incredibly motivated, and we’re waiting for XRP to skyrocket, there are a few points we should pay attention to:

  • When you look at the current formation XRP is in right now, you’ll notice it literally sitting on the lower channel trend line.

  • The triangle, unfortunately, exceeds the main formation (not by a little) and could potentially affect the trend negatively. 

  • The stock would need to shoot up right now (and pass $0.29000 right above the 200 SMA) to be good for higher levels.

Now there is some leeway to continue into the bearish area, but breaking down below it (and even above it, too far out) would trigger striking the critical bottom line.

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Will the history repeat?

Here is another interesting pattern: we see that XRP is repeating the pattern we observed from 2015 to 2017. Does it mean XRP can skyrocket? It’s not likely that XRP will touch the $5-7 level, as SXTrading states. However, a breakout seems to be possible, if we look at XRP from this angle.

Ripple (XRP) price charts by TradingView

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