General News Price Analysis XRP News

XRP Technical Analysis: Rupture of Pattern May Signal a Significant Breakout

Blockchain Researcher Avers Why Forking XRP would be a Wasted Effort

Ripple’s token XRP remains under its $0.30 resistance. At the press time, the third-largest cryptocurrency in terms of market capitalization is trading at $ 0.2900, according to CoinMarketCap. However, buyers do not give up and continue to conquer the specified level. At the same time, a large part of the crypto community wants to know what to expect from the token further ahead of the Swell conference.

According to an analyst from Venezuela under the nickname José Mauricio Rozada, a Ripple’s token is waiting for a breakthrough:

As we can see, buyers supporting a good upward rebound. At the moment, assets such as XRP look very interesting in the context of continued growth. Moreover, the formation of an ascending pattern between the 100-day and 200-day moving average in favor of growth is visible on the XRP/USD chart.

With a pattern break scenario or a 200-day MA level, a significant breakthrough can wait for the XRP price.

The asset, which its all-time high was above $ 3.00, is experiencing new enthusiasm before the annual Swell conference.

Will XRP Give Us That Surprise At Swell Event

That is what most token holders are waiting for right now. After all, Swell is just 6 days away. As we can see today, the token has nothing to gratify the community, but analysts still predict its bright future.

Note, this time the forecasts are more surprising.  An analyst known in the XRP twitter community under the nickname Crypto Bitlord submitted a price of near $ 8.00. This forecast seems unreliable today, given all the obstacles to recovering XRP to $ 1.00.

The forecasts pointing at the price barrier of $ 0.5 – $ 1.00 look much more realistic.

The Ripple’s conference is scheduled for November 7-8. It is during this period the community expects the predictions may become true. There is enough time to take steps to achieve the goals. So far, XRP has nothing to brag about and the token is among those assets which value has not changed so much.

Therefore, XRP price indicators were much more stable than any other coin during 2019.

The Swell event headed by Ripple, and the end of the 2019 year will likely bring more positive news for XRP holders. The large part of the community believes that more news capable of affecting the XRP rate positively will will appear at the conference.

Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Victoria Tiebienieva

Victoria Tiebienieva is an Europe based cryptocurrency writer with over 5 years writing experience in the cryptocurrency space.

Victoria has written numerous articles for popular cryptocurrency websites across Europe and beyond. She has spoken about cryptocurrency in notable media houses across her country.

Email: victoria.tiebienieva@newslogical.com

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