• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
XRP

XRP Is Poised to Almost Double in the “Coming Weeks”: Here’s Why

Nick Chong by Nick Chong
3 years ago
in Ripple
Reading Time: 3 mins read

XRP has been diligently following Bitcoin over the past few days, retracing as the leading cryptocurrency has. The asset trades up 1% in the past 24 hours, trading at the $0.285 level.

While the asset remains below the $0.30 psychological and technical resistance, a technical analyst says that XRP remains bullish. He notes that the cryptocurrency could nearly double in the weeks ahead, which will mean it will soon near $0.50.

Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC

XRP Could Double in the Coming Weeks: Technical Analysis

XRP is holding around a pivotal horizontal level after reaching local highs last week. The cryptocurrency remains poised to rally towards $0.475 in the coming weeks, one analyst has said in spite of the recent weakness.

The analyst, the head of technical analysis at Blockfyre, wrote the following on the matter on August 23rd:

“$XRP Still consolidating around this ever so important S/R that dates back 3 years. Ultimately expecting this to move up over the next few months at it’s own pace. Eyes on .475 in the coming weeks.”

Image

Chart of XRP's price action over the past few years with analysis by crypto trader "Pentoshi" (@pentosh1 on Twitter). Chart from TradingView.com

He believes that in the longer run, as macro price patterns play out, XRP will eventually move towards $1.00. As reported by NewsBTC previously, he wrote in another analysis earlier this year:

“You despise money if you don’t own XRP. Maximum point of financial opportunity is right at these levels. Reclaimed the area where the 17′ bull run had kicked off after a deviation below a year long support range. A massive bull flag. Think Mid term (2-3 months) .93c.”

Image

Chart of XRP's price action over the past few years with a level/range analysis by trader Pentoshi (@Pentosh1 on Twitter), the head of technical analysis at Blockfyre. Chart from TradingView.com
Related Reading: These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop

All Eyes on Bitcoin

Although XRP could rally higher if Bitcoin flatlines, it will unlikely double. For the altcoin to double, the leading cryptocurrency will need to rally.

Fortunately for XRP fans, analysts say that BTC remains in a relatively good spot on a medium-term time frame.

Multiple commentators have noted that Bitcoin’s ongoing consolidation looks eerily similar to the consolidation BTC took after the start of 2019’s bull market. Both periods have structurally similar price action, suggesting history could rhyme and Bitcoin will move higher once the market cools down.

Related Reading: Crypto Tidbits: Dave Portnoy Drops Bitcoin, Tether Supports Ethereum’s OMG Network, DeFi Still Hot
Photo by Harley-Davidson on Unsplash
Price tags: xrpusd, xrpbtc, xrpeth, xrpusdt
Charts from TradingView.com
XRP Is Poised to Almost Double in the "Coming Weeks": Here's Why
Tags: Pentoshitechnical analysisXRPBTCXRPUSD
Tweet123Share196ShareSend
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Ripple

Massive Token Unlock: Ripple Releases One Billion XRP From Escrow

4 hours ago
XRP

XRP Hype Spikes As Price Surges 12%, Is This A Top Signal?

6 hours ago
XRP

XRP Bullish Signal: Address Activity Spikes To Historical Levels

2 days ago
Ripple Fate Hangs: Leading Lawyer Warns Of Consequences in SEC Lawsuit

Leading Lawyer Warns Of Consequences For Ripple In SEC Lawsuit

2 weeks ago
Crypto

Ripple Acquires Crypto Custody Firm Metaco In $250 Million Deal

2 weeks ago
Ripple XRP

Ripple (XRP) Legal Defender Lauds Judge Torres’ Ruling As A Victory For The People

2 weeks ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    1 day ago
  • Willing to buy new crypto: Here are the best 10...

    1 day ago
  • Best Crypto Meme Coin Presales in 2023

    1 day ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Investors Side With Skyrocketing TMS Network (TMSN) As...

    1 hour ago
  • Lido DAO (LDO) Finally Launches V2 While Uwerx(WERX) Has...

    1 hour ago
  • MOOKY Price Prediction – the next Dogecoin (DOGE)?

    3 hours ago
  • The Graph (GRT) and InQubeta (QUBE) Are Two Crypto AI...

    3 hours ago
  • Steadfastness Under Scrutiny: Mooky (MOOKY) and ApeMax...

    3 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.