As everything looks good for nearly all altcoins in the cryptocurrency market, including BSV that is receiving series of delisting at the moment, respected cryptocurrency researcher by the name Crypto Rand has shown optimism in the XRP digital asset, positing that the digital asset may reach $300 before the end of the week.
Cypto Rand, a crypto analyst and trader involved in daily analysis of Bitcoin (BTC) and altcoins, offers the surprising short term XRP Price prediction, prophesying that the digital asset will climb to $300 before the end of the week.
Although, the present state of the cryptocurrency market came as a surprise too. Just at a time when the market appeared to be showing negative signs, the whole crypto space suddenly picked up, adding $4 billion to it in a very short time.
What just happened to the crypto market? pic.twitter.com/NGyAgY221G
— Joseph Young (@iamjosephyoung) April 16, 2019
The crypto analysis platform did not base its assertion on something tangible, save for the path XRP is trending at the moment.
XRP Price Prediction: $589 in 2019, how possible?
The $589 Ripple’s XRP price prediction in 2019 is expected to sound very impossible considering the situation the digital asset is facing presently in the crypto market, where the token has found it difficult to reach or surge beyond $0.4 market price.
Doubting Thomas will not believe this enormous and costly XRP price prediction, but putting the present and past data to consideration, a very close look might make you see why Ripple (XRP) enthusiasts wait patiently for the time which the impossible will happen, when they will see XRP reach $589 price peak.
If you are a true student of history, you will remember that Ripple (XRP) embarked on its usual winning race in the first week of 2018 when the token hit its hallmark price of $3.8, putting it in a prime position of being recognized as second largest cryptocurrency in the world, with over $140 billion market cap.
So, $589 per XRP price prediction is not impossible in the cryptocurrency space where anything is possible. Even with the increasing number of adoption the cryptocurrency is receiving, the digital asset is capable of convincing investors to plunge in with their capital investments. If it comes to pass, XRP reaching such an enormous height in 2019 is not an impossible mission.
XRP Intraday Price Analysis: A Possible Price Correction Towards The Ceiling
Generally, the market is reacting to the trend of Bitcoin as the crypto lord seems to be looking for a price correction along the upside trend.
However, XRP, the native token of the world renowned remittance technology, displays more potential than BTC along the upside trend. At the time of writing, XRP has a spot price of $0.332414 with 3.61% increase against the US dollar, and a spot price of 0.00006386 BTC and 0.85% added value against BTC in the last 24 hours.
XRP has been able to retain the third position with an irreconcilable wide margin, thanks to about $19 billion market cap of the digital asset.
Since the start of the Asian trading session yesterday, XRP has been able to maintain a band price between S1 ($0.33264) and S2 ($0.32299).
At the mid hours of the European trading session today, the altcoin issued out a revamp power, making it to R1 ($0.34164).
Even though XRP afterwards trended low in the market to S1, the altcoin has been able to issue out another rally towards the north with a possible price correction along the rising wedge.
However, if the present rally is maintained, the Eliot wave indicates that the price of the altcoin will rise again to R1 in the next 24 hours, and in the worst case scenario, XRP will maintain a band price between R2 and S1.