Crypto News

There’s a “Non-Trivial” Chance XRP is About to Explode; Here’s How High It Could Go

The ongoing rally seen amongst major cryptos has allowed XRP to break past the key resistance it was previously facing around $0.33, with its movement past this level leading analysts to grow even more bullish on the cryptocurrency than they were before.
In the near-term, it is highly likely that the crypto will continue tracking the price action seen by the aggregated market, which suggests that the coming few days could prove to be highly bullish.
Analysts are also noting that there is a “non-trivial” chance that XRP incurs some explosive momentum in the coming few hours and days, which could allow it to post significantly further near-term upside.
XRP Flies Past $0.33 Resistance as Analysts Eye Further Near-Term Upside 
At the time of writing, XRP is trading up just under 3% at its current price of $0.335, which marks a notable climb from daily lows of $0.31 that were set yesterday around this time when bears attempted to invalidate the bullish market structure it formed after breaking above the previous resistance it had faced at $0.30.
Although the token saw incredibly bearish price action throughout 2019, its ability to rally from its year-to-date lows of $0.18 over the past few weeks has led analysts to grow increasingly bullish on it.
The Crypto Dog, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that he is watching for a 15% upside movement in the coming weekend against the crypto’s BTC trading pair.
“I’d like to see XRP head a little further north this weekend, say about +15%?” he explained.

I’d like to see $XRP head a little further north this weekend, say about +15%? pic.twitter.com/mFLv0UV9kq
— The Crypto Dog📈 (@TheCryptoDog) February 14, 2020

The Token Could be in for Some Explosive Momentum
The Crypto Dog isn’t the only analyst who is bullish on XRP right now, as Jonny Moe, another well-respected cryptocurrency analyst on Twitter, explained that he believes the token is in for a major upside movement in the days and weeks ahead.
“And the monthly. With Feb only halfway complete, monthly volume is 1.15B. The Dec 2017 monthly volume was 2.26B. There’s a non-trivial chance that XRP is about to explode,” he said while pointing to the chart seen below.

And the monthly.
With Feb only halfway complete, monthly volume is 1.15B. The Dec 2017 monthly volume was 2.26B.
There’s a non-trivial chance that $XRP is about to explode. pic.twitter.com/bZkmOvsgce
— Jonny Moe (@JonnyMoeTrades) February 14, 2020

If the token is able to break above the upper boundary of the falling wedge he references above, its ongoing bullish upswing could turn parabolic, allowing the crypto to see gains that rival those seen in 2017.
Featured image from Shutterstock.

Related Crypto News

Here’s Why Bitcoin’s Bullish Monthly Close Isn’t Enough to Thwart a Massive Selloff
Following Bitcoin’s bout of consolidation within the mid-$6,000 region, the benchmark cryptocurrency has seen a slight decline that has...
Film Reels and Steel: Github Plans to Archive Bitcoin Code for 1,000 Years
The Microsoft subsidiary, Github recently revealed the “Archive Program,” an initiative that aims to preserve open source technologies for...
XRP Falls Behind Bitcoin SV, Dogecoin in Active Addresses
Evidence suggesting a change in investor behavior continues to grow as XRP and a handful of other projects see...
Is Litecoin Leading the Crypto Market Back Toward 2015 Prices?
Litecoin is known for often being among the first altcoins to begin to see growth or decline after a...
OKEx to Host 11th IEO Amid Crypto Bear Market
OKEx has announced its 11th exchange-based token sale coming soon on the Jumpstart platform. With the crypto market still...
Bitcoin Closes Q1 With Historic Darth Maul Candle: Here’s What it Means
Bitcoin price had one of its most volatile months yet, resulting in a massive, $6,000 long “Darth Maul” candle...

Featured Crypto News

Do or Die For Bitcoin Bulls: Here’s What Could Trigger A Strong Rally
Bitcoin is slowly rising and trading above the $6,750 level against the US Dollar. BTC price must claim the...
Bitcoin Hashrate Down 45% – Miners Witness Second-Largest Difficulty Drop in History
Bitcoin’s hashrate has plummeted 45% since the record-breaking levels it saw on Feb. 29. The hashrate touched an all-time...
Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back
Ethereum is still facing a strong resistance near the $142 and $144 levels against the US Dollar. A successful...
Chances Are, Bitcoin Will Soon Explode 20% Higher to $8,000: Here’s Why
Despite the brutal crash seen earlier this month, Bitcoin has performed extremely well over the past few days, rallying...
4 Virtual Crypto Conferences You Can Attend From Home
The crypto industry has had to quickly adapt to the escalating coronavirus pandemic, with major conferences postponed, canceled or...
Here’s Why Bitcoin’s 15% Rally Could Fail Near The Key $6,500 Barrier
Bitcoin is up more than 15% and it broke the $6,000 resistance against the US Dollar. However, BTC price...