Bullish Predictions For XRP Price Could Reach Close To $6

As per the chart posted by the analyst, the price movements seem to be following a pattern. The price initiates the weekly trade being on the higher end and drops suddenly. Later after a strong consolidation propels to the next levels. Considering the pattern, the analyst predicts the price may hit around $6 by mid of August 2021.

Also Read: XRP Price Hangs Above Crucial Support Levels, $5 Appears Imminent!

XRP Price Analysis

XRP price since the mid-may crash maintained a low-key trend and failed to sustain above the resistance levels around $1.06. Moreover, the start of the current trading month was quite bearish. The price, no doubt reattempted to surge above $1, yet failed to do so. 

With the fresh slump, the price remained below the key levels and initiated plunging by 10cents every couple of days. Currently, it is attempting hard to sustain above $0.7 levels where the bears have overpowered the crypto space. 

As seen in the above chart, the price has sustained above the support levels, despite the constant plunge. Therefore, if the price sustains the current downtrend, then a huge uptrend may be fast approaching. 

The XRP price at the press time is $0.7068 with a drop of 11.57% in the last 24 hours. Currently, the indicators also point out towards a bearish trend as the RSI levels have dropped below 20. The MACD line and the signal line are also moving towards the south parallelly and hence does not showcase a buy signal.

Technical Specifications

• The resistance levels are at $0.935
• The support levels are at $0.56
• Indicators point out towards a sell signal

Also Read: Ripple Vs SEC : Ripple Gets a Setback in Lawsuit Against SEC