If you’re wondering where XRP is headed next at the moment, you’re not alone. The crypto asset has shown significant bullish price action and signals.
However, if bulls are not able to continue driving momentum through the various developments happening not just within the crypto space as a whole, but within XRP, there’s a chance we see a slight drawback.
XRP is currently trading at $1.47 at the time of this writing having broken above a falling wedge pattern as depicted below.
While I do have experience trading the markets and provide market analysis, it is important to advise that none of this information is financial advice — as always, be sure to make an informed decision based on your own research and due diligence.
XRP has broken out of its falling wedge pattern but now needs to break above (realistically) $1.50 to see the next leg up to retest $1.63.
Traders might be wondering — is it too late to buy XRP?
And the answer is absolutely not, and I’ll give the best entry points for quick profits in just a second.
If pricing fails to break above the $1.50 range and begins to reject its current $1.47 level, there’s a strong probability XRP falls back down to retest $1.28.
So, what are your best entries if you’re looking for a quick scalp?
Most crypto traders holding XRP are in it for the the long run, meaning they’re buying and holding the asset for bigger adoption and market cap to increase, cashing in massive gains.
Whether you decide to short-term trade XRP or begin setting yourself up for a long-term play, you’ll want to enter based on the following scenarios.
- If XRP falls down to $1.28 and it begins to bounce (keyword bounce) from this level, technical analysis suggests price will go up and retest its current $1.47 range.
- On the bullish side, if XRP is able to break above that $1.50 level, this could be a great entry towards the upside as it retests $1.63 and beyond.
Many traders now believe that you will not be able to buy XRP for under $1 again, with others suggesting buying XRP at these levels is like going back in time and collecting some Bitcoin at these prices.
While price prediction such as XRP hitting $5, $10, and even $100 is speculative, there are several developments currently driving excitement into the cryptocurrency.
Luckily for you, we cover XRP News and market analysis from crypto experts and strategists, as well as from yours truly.
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