Ripple XRP Price Prediction for 2020

Should I invest in Ripple? Many people asked themselves this question back in 2018 after seeing the coin skyrocket from $0.006 to over $3.8 in less than a year.

The coin started on the market in 2012 with an approximate price of $0.005. Its value remained rather flat until 2017 when the entire crypto industry went through a mind-boggling boom.

Ripple XRP Price Prediction for 2020

The first price peak happened in May 2017. Back then, XRP soared to $0.36 per coin amid the Ripple’s office opening in Mumbai. The prices settled down around the $0.20 range for the following six months.

The second peak occurred in January 2018. On January 4, Ripple XRP hit its all-time high of $3.84. However, going forward, the price started falling gradually, and by September, the rate fell to $0.29. Short-lived upside momentum then boosted the coin’s value up to $0.56. XRP closed 2018 at $0.35.

In 2019, the coin did not have any significant breakthroughs, holding steady in the range of $0.2 – $0.5. After bottoming at $0.17 in December, the price of the third-largest cryptocurrency surged up to $0.33 in eight weeks’ time, representing a gain of nearly 100 percent.' XRP Price Prediction'

Now that Ripple XRP trades at around $0.30, analysts have split in two. Some are sure that more upside is likely for the prominent altcoin, while others say it has the potential to plummet dramatically once again.

If you analyze the dynamics of the XRP rate, it is easy to notice that Ripple news plays a crucial role in the coin’s valuation. Every time the business announced a new partnership with a large bank or payment service, it would always trigger short-term price hikes in XRP.

But will the Ripple be able to push its service further? Let us find out what the 2020 Ripple (XRP) Price prediction looks like.

What the future Price holds: Ripple XRP price prediction for years ahead
A few finance giants like JPMorgan are now working on introducing their own digital assets, some of which are likely to offer service that is very similar to Ripple. If this is actually to happen, the adoption rate of XRP will fall significantly, leading to the coin’s eventual devaluation.

This remains one of the biggest issues that make many concerned about the project’s future. The only way for Ripple to avoid this bearish scenario is to start promoting its currency not only as payment means but also as an investment tool.

Looking ahead, Brad Garlinghouse told Bloomberg: “I don’t think about the price of XRP in the short-term. I think if we can enable XRP to be the most efficient in terms of the speed of a transaction and the cost of a transaction, more and more people will use it.”

While Garlinghouse’s determination to be in it for the long haul may reassure some investors, do all analysts remain as optimistic? Is Ripple worth investing in 2020?

Twitter user Crypto Rand, a prominent crypto price analyst and industry personality that has over 200,000 followers on Twitter, said that if XRP breaks the current price range it is trading in – $0.30 to $0.31 – the prices are likely to “moonshot.” His chart suggested that if the price makes a few daily closes above $0.31, it will be set for at least a 50 percent surge towards the resistance in the $0.47.

Josh Olszewicz, a Crypto price analyst at cryptocurrency data provider Brave New Coin, supported this prediction. Josh Olszewicz commented that if Ripple XRP manages to break above $0.30, level its historical resistance, the XRP could rally 66 percent to $0.50 in the months following this event.

Meanwhile, Peter Brandt, a commodity trading veteran, said that XRP price has a chance of sinking to just $0.2071 in the short-term perspective.

According to the online forecasting service, WalletInvestor.com, XRP is a “bad, high-risk 1-year investment” option. In one year, the price of the coin is expected to fall to $0.02 by December 2020. In five years, Price predicts this cryptocurrency to trade at $0.029 in February 2025.

TradingBeasts.com commented the Ripple XRP price predicted to reach $0.361 by the beginning of March. For the long-term, the coin is not expected to fluctuate a lot, with this year’s average standing at $0.34. By December 2025, the service estimates the rate to grow a little and trade at $0.52.

Based on the popular forecasting website Longforecast.com's opinion, the XRP price prediction for December 2020 is $0.17. In 2022, the prognosis a steep decline, with the rate falling as low as 0.09 by the end of the year.

A much more optimistic Ripple price prediction is offered by Cryptoground.com. They forecasted XRP to trade at $0.348 in one year, gaining almost 28 percent. The growth is expected to continue, with the coin reaching $1.9422 in five years.

Looking ahead, the top website DigitalCoinPrice.com states in its Ripple price prediction that XRP will have moderate price growth. The positive trend is expected to prevail, with the coin trading at $0.54 by the end of 2020. Looking ahead, DigitalCoinPrice.com predicts Ripple XRP to hit $1.23 by 2025.

Lastly, in the Ripple (XRP) price prediction for 2020 provided by CoinSwitch, the price of XRP is expected to gradually increase, eventually reaching a $1.10 mark in the middle of the year. CoinSwitch believes that if XRP continues to develop at a rapid pace and has independent trading platforms and investment routes like Bitcoin and Ethereum, the coin will be able to touch the $2 mark by 2021.

Ripple XRP long term Price Prediction

Ripple XRP has succumbed to a period of stagnancy over the past 7 days. From June 3rd to June 10th, the asset has undergone minimal movement between $0.205 and $0.201 but on 9th June, there was an unusual drop down to $0.171."XRP Price Prediction"

After registering a high of $0.231 at the start of May, XRP’s valuation continued to oscillate between two trendlines which incline and decline respectively. The movement of the trendlines has given rise to a symmetrical triangle pattern which opens up the possibility for both a bullish or bearish breakout over the next couple of weeks.

i) Bullish Case

Considering that the momentum shifts towards buyers’ market over the next few days, a breakout should allow XRP to breach immediate resistance at $0.211. Solidification of a local bottom at $0.200 would form strong support.

However, VPVR exhibited the presence of very strong resistance at $0.203. RSI also failed to inject confidence as the indicator remained completely neutral between buying pressure and selling pressure at the time of writing. Additionally, for the first time in a long duration, XRP has exhibited depletion of trading volume which suggests that the current price point is largely temporary.

ii) Bearish breakout

By the look of things, the argument for a downward slope gathers more steam. As observed in the chart, during the entirety of the symmetrical pattern, the asset has hovered under the Point-of-Control(red-line) for a majority of the period.

With strong resistance at $0.203, XRP is possibly eyeing another re-test at $0.195.

At press time, MACD also remained strongly bearish as the signal line hovered over the MACD line. Any position for XRP under $0.195 should prompt a quick bounce to support at $0.195.

XRP/USD Daily Chart

XRP/USD Daily Chart

The pair of XRP/USD is currently trading at $0.2014 after barely moving a few cents today. The Ripple price is being compressed by the presence of the 200-day simple moving average at $0.21, above, and the rising trend line from the March lows at $0.185, below.

Above the current price, the first resistance level is at $0.21, then the second at $0.235 and the third one at $0.262.

Below the current price, the first support level is at $0.20, then the second at $0.19 and the third one at $0.18.

The MACD chart shows a flat profile with no direction and strength. Volatility is 0, which could lead to a radical price movement as soon as the money chooses where to go.

The DMI chart on the daily shows bulls dominating the XRP/USD pair but not moving in the price direction.

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