- Bullish XRP price prediction ranges from $1.88 to $4.67.
- XRP price might also reach $10 soon.
- XRP bearish market price prediction for 2021 is $0.05.
This XRP (Ripple) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our XRP price analysis and prediction.
One of the crypto assets performing great this year in terms of providing a seamless payment gateway experience is Ripple. Lately, Ripple has launched a new project on its RippleNet called Line of Credit. This project is a beta service that enables Ripple customers to acquire funds easily. Then, they can start financing their cross-border projects using XRP tokens.
Furthermore, Ripple has recently partnered with Lemonway, a payment gateway in Europe for online marketplaces. This partnership is said to improve payment transactions between euro-euro and other currencies supported by Lemonway.
Would these events be good enough to make Ripple a good investment? Should we invest before the year ends or by 2021? Let us find out in this CoinQuora Ripple (XRP) market analysis and price prediction 2021 article.
What is XRP (Ripple)?
Ripple is a privately-held fintech firm that offers a global payment solution through its patented payment network called Ripple Network. Moreover, RippleNet is a payment network that is built on top of Ripple’s consensus ledger, called XRP Ledger. More so, Ripple funded the innovation of the open-source XRP Ledger.
Unlike most cryptocurrencies out there that cater to peer-to-peer needs, Ripple was made to combine banks, payment providers and cryptocurrency exchanges, allowing real-time settlement expeditions and lower transaction fees.
XRP Current Market Status
As of the time of writing this Ripple price analysis, XRP trades at $1.39 with a 24-hour trading volume of $30.355 billion. The price of XRP has increased by 19.47% in the last 24 hours.
Furthermore, XRP has a current circulating supply of 45,404,028,640 XRP. Currently, the top cryptocurrency exchanges for XRP are Binance, Huobi Global, ZBG, Upbit, and OKEx.
Now, let’s proceed to the next part of this XRP technical analysis for 2021.
XRP (Ripple) Price Analysis 2021
Currently, Ripple holds 4th place on CoinGecko. But will the latest upgrades, development, and changes in the XRP blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this XRP price prediction article.
In the chart above, which is set in a daily time frame, we can see the Ascending Channel pattern. An ascending channel is the price action occurring in an upward direction through a sloping parallel line. Also, the chart displays the Higher highs and higher lows from this price pattern. More so, this pattern represents a short-term bullish.
As shown above, at the beginning of this month, XRP turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) is above 70, which means that XRP is in an overbought state. Hence, this may lead to a price reversal at any given time.
Therefore, traders must trade crypto carefully and must not be affected by the market hype. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of XRP.
Since the start of 2021, XRP’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, XRP has a competitive market this 2021.
XRP Price Prediction 2021
The chart below shows that Ripple has performed great over the past few days. Moreover, the XRP price is over 143% in the last 7 days. If this trend continues, XRP might run along with the bulls, overtaking its $4.67 resistance level and climb higher.
Conversely, if the investors turn against the crypto, the bears might take over and dethrone XRP from its uptrend position. In simpler terms, the price of XRP might plummet to almost $0.005, a bearish signal.
Meanwhile, our long-term XRP price prediction 2021 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $3.84 this year. However, that will only happen if it breaks many previous psychological resistances.
Ripple has a bright future ahead of it in 2021. With the ongoing developments happening within the XRP ecosystem, as well as in the overall crypto market, we may see XRP reach new heights.
Bullish XRP price prediction 2021 is $4.67. As said above, it may even reach $10 if investors have decided that XRP is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Yes, it’s very much possible that XRP might reach $10 in the near future as per the current bullish trend.
XRP is the native digital asset of Ripple. However, it is capable of settling a payment within 4 seconds and handling 1,500 transactions per second.
Users can obtain XRP coins by purchasing them from cryptocurrency exchanges such as Binance, or Huobi Global.
XRP is a good investment in 2021. However, XRP has a high possibility of surpassing its current ATH at about $3.84 this year.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.