XRP Price Might Touch $0.14 Before Breaking The Downtrend. Why Ripple Is Powerless?

September 8, 2019 David Ripple 0

With altcoin price falling like a house of cards, Ripple seems to be on the verge. On the verge of either another nosedive or a long-awaited breakout. What to expect from Ripple? While experts don’t rush to share their opinion, amateur traders come up with their own XRP price predictions – some of which are dreadful. Here’s what people think about short-term future of XRP.

XRP holders are tired of the situation

And they literally express this concern. Due to the long-lasting downtrend, traders are confused and have no idea what to do – keep holding XRP or quitting the game. 

Here’s another trenchant reply:

The rumors about XR1 fork only complicate the situation – many Twitter users are sure that it will only suppress the current price level on top of that:

Thus, the traders expect XRP to nosedive and reach new lower lows 2019:

Bears control the market

XRP’s strongest support at $ 0.28 was broken on August 14. Soon after, this support level was tested again and it has now become the strong resistance that XRP is facing. The bulls need to push XRP above $ 0.28 for a while, at which point we can expect a short-term rally to $ 0.33.

However, they fail to do it so far, and the bears are in control. Thin support is being formed at $ 0.25. If the bears sink XRP below $0.25, it will resume its downtrend and plunge to $0.19.

At this point, our expected level is at $ 0.147.

The weekly chart bear run is close to the end

Ripple (XRP) price chart by FXPro32

XRP/USD is coming to the end of its bearish run on the daily, but still within the triangle on the weekly chart.

Price action is nearing completion of the Level 2 move (2-1, 2-2, 2-3), which will then start the Peak Formation Low (PFL  move which is a Level 3. No doubt, going by past market structure, manipulation will be constant and keep the price at a consolidation zone in order to frustrate the market even more. FXPro32 expects a 3 legged W formation before the first fake breakout of the triangle structure, as noted on the chart. Manipulation will continue before the final drop, which should complete and confirm a level 1 base before launch anywhere between December 2019 ~ February 2020. 

Most likely, Ripple will launch towards the middle or end of January 2020 to complete the level 1 move and start on a level 2 move around$ 0.42. From level 2 to PFH (@ 0.58 cents), could be very fast or drawn out. Note that all of the EMAs are starting to fan out, which signals preparation for a reversal of the trend.

When we look at the TDI indicator at the bottom, it also shows we are approaching the oversold area, with RSI approaching the lower outer band. Probably, the market will push the RSI downwards a little more, to form a shark fin before the uptrend starts, breaking out of the triangle structure. The fast EMA (the red line within the TDI indicator) should also follow RSI, although the user expects it to touch the lower band (blood in the water), coinciding with the shark fin pattern. Around October 2019, we will most likely see lower pricing, possibly around $0.20, before the bullish trend starts properly.

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As we see on the chart from user Bullandbeartrading, a bearish pennant pattern has formed on the 4h timeframe. The price closed under the 4h key level. That means XRP is heading lower lows and may touch the $0.22-0.23 zone. This is when it’s the right time to buy XRP – it might be a good trading opportunity. 

Bottom Line

The bearish period is not over yet – we might witness even lower Ripple prices, which means long-term investors still have time to enter the market and wait. Judging by the above-mentioned XRP price predictions, we should not expect XRP to start a breakout sooner than in November 2019, and most likely, it will even happen in 2020.

Ripple (XRP) price charts by TradingView

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