{"id":59562,"date":"2020-01-20T01:44:19","date_gmt":"2020-01-19T23:44:19","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=59562"},"modified":"2020-01-20T01:44:19","modified_gmt":"2020-01-19T23:44:19","slug":"xrp-price-could-break-dozens-of-percent-higher-if-this-level-is-breached","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/xrp-price-could-break-dozens-of-percent-higher-if-this-level-is-breached\/","title":{"rendered":"XRP Price Could Break Dozens of Percent Higher If This Level is Breached"},"content":{"rendered":"<p>Earlier today, the price of Bitcoin (BTC) crashed by 7% as c<a href=\"https:\/\/en.ethereumworldnews.com\/after-7-crash-analysts-expect-further-bitcoin-price-drop-heres-why\/\">overed by this very outlet.<\/a> Understandably, altcoins followed suit, with Ethereum, XRP, and all the rest posting losses that were similar to that of the cryptocurrency market&#8217;s leader.<\/p>\n<p>Despite the drop, not all hope is lost for <a href=\"https:\/\/en.ethereumworldnews.com\/?s=XRP\">XRP<\/a>, an analyst has posed, going as far as to say that if a key level is breached, a rapid surge up by dozens of percent can be had.<\/p>\n<h2><strong>XRP Preparing For Breakout<\/strong><\/h2>\n<p>On Saturday, cryptocurrency trader CJ <a href=\"https:\/\/twitter.com\/IrnCrypt\/status\/1218692406159331329\" rel=\"nofollow noopener\">posted the below charts on Twitter<\/a>, showing that XRP&#8217;s chart is eerily reminiscent to that of altcoins Bitcoin Cash and Bitcoin Satoshi&#8217;s Vision prior to their latest breakouts. More specifically, he pointed out that like the Bitcoin forks prior to their rallies, the price of XRP is consolidating under a range equilibrium price point.<\/p>\n<p>Should XRP break above the range equilibrium just as the altcoins did, it could also rally by over 25% in a short period of time, the analysis suggests.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$XRP<\/a> &#8211; Break the EQ and \ud83d\ude80 <a href=\"https:\/\/t.co\/83GUxNJf0n\" rel=\"nofollow\">pic.twitter.com\/83GUxNJf0n<\/a><\/p>\n<p>&mdash; CJ (@IrnCrypt) <a href=\"https:\/\/twitter.com\/IrnCrypt\/status\/1218692406159331329?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">January 19, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><strong>Can Price Surmount the Level?<\/strong><\/h2>\n<p>With this in mind, it is logical to ask \u2014 can XRP break and close above the $0.244 resistance as indicated by CJ?<\/p>\n<p>According to some, for sure.<\/p>\n<p>Analyst CryptoWolf recently noted that per his earlier analysis, XRP has finally started to decisively break out of a falling wedge pattern that has constrained price action for the past seven months. The cryptocurrency has also surmounted a key horizontal resistance that has been important on a macro basis.<\/p>\n<p>https:\/\/twitter.com\/IamCryptoWolf\/status\/1218552089871253505<\/p>\n<p>With this in mind, he suggested in the below chart that he expects for XRP to target the 0.382 Fibonacci Retracement of the entire falling wedge over the coming weeks, which suggests a 25% rally is on the horizon.<\/p>\n<p>Not to mention, per <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-price-printed-long-term-bull-signal\/\">previous reports from this very outlet<\/a>, the XRP against the U.S. dollar chart just printed a \u201cbuy 9\u201d TD Sequential candle after months upon months of falling prices.<\/p>\n<p>As an aside: the TD Sequential is a time-based indicator created by a special advisor to Point 72 Asset Management and a CEO of a market research and analytics firm. Per a technical analysis site, \u201cWhen the 9 count is completed, it is at that point, a price pause, price pullback, or reversal is likely.\u201d<\/p>\n<p>On the fundamental side of things, Ripple Labs has continued to push ahead with<a href=\"https:\/\/en.ethereumworldnews.com\/crypto-giant-ripple-massive-partnership\/\"> partnerships that could increase the adoption of XRP-related products<\/a>.<\/p>\n<pre>Featured Image from Unsplash<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Earlier today, the price of Bitcoin (BTC) crashed by 7% as covered by this very outlet. Understandably, altcoins followed suit, with Ethereum, XRP, and all the rest posting losses that were similar to that of the cryptocurrency market&#8217;s leader. Despite the drop, not all hope is lost for XRP, an analyst has posed, going as far as to say that if a key level is breached, a rapid surge up by dozens of percent can be had. XRP Preparing For [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":59217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4656],"tags":[115,83,162,111,84,6957],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/59562"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=59562"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/59562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/59217"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=59562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=59562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=59562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}