August 9, 2022

XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out

2 min read

XRPXRP

David Schwartz Ripple’s CTO, architect, and co-creator of the Ripple journal in a recent interview spoke on the company’s growing interest in NFTs. Founder of Ripple-backed XRPL Labs, Wietse Wind in February this year developed a proposal to execute support for non-fungible tokens [NFTs] on the XRP Ledger [XRPL], which does not need altering the code for XRPL.

Wietse Wind highlighted a distinct function of NFTs, which is that they are indivisible and are utilized to develop verifiable digital ownership and shortage. According to Wind, XRP Ledger already supports token releasing, suggesting that, they can be sent out, transacted to other XPRL accounts.

Another fascinating event for the XRP crypto-asset was the Apex XRPL Developer Summit that took place on 29-30 September, where Ripple introduced a 250 million USD fund to support developers, generate income from accessible and innovative NFT experiences on the XRP Ledger.

XRP Price Prediction: XRPBTC Weekly Chart

Ripple’s XRP starts to see growing need after the routine bullish divergence on 28 December ’20, followed by a bear-trap candlestick pattern on 08 March ’21 for a 410% rate surge against BTC.

A current surprise bullish divergence support on 18 October ’21 increase the bullish outlook of the XRPBTC. We expect an additional rise in need for XRP with a weekly cost close above the 09 August resistance.

XRP Price Prediction: XRPUSDT Weekly Chart

The XRPUSDT preserves a bullish outlook on the weekly timespan with the most recent bullish setup being the bear-trap candlestick pattern on 20 September ’21.

Greater RSI readings above level-25 recommend a rise in buy pressure towards the XRP vs. the USDT.

XRP Price Prediction: XRPUSDT Daily Chart

The everyday chart above reveals the XRPUSDT trading within opposing bearish and bullish divergence support [$ 1.100] and resistance [$ 1.3550] levels on 06 November ’21 and 10 November’21

. A 2nd bullish divergence setup signals more current assistance on 12 November ’21 making it rather challenging for the bears to drive the XRP rate lower. If the XRP rate closes listed below the $1.100 assistance, we might anticipate to see an oversold level below level-25 as the next cost floor.

For now, we’ll think about taking a long order, and dollar expense average into the uptrend if the RSI goes into the oversold location.

XRP Price Prediction: XRPUSDT 4 Hr Chart

Zooming down to the intraday 4HR chart, the XRPUSDT fixed assistance at 30 October 12:00, 06 November 12:00, and 10 November 20:00.

The second bullish divergence assistance [$ 1.1615] is established on 12 November 12:00 setting the XRPUSDT crypto set for a cost hike.

The post XRP Price Prediction: Is It A Good Time to Long XRP? Here Are Important Levels to Watch out appeared initially on Coingape.