Analyst's Reason Expect XRP Ripple Prices to Jump to US $0.30


Reporting from NewsBTC, the entire crypto market has collapsed by percent per week. However, altcoin like XRP behaves pretty well. In fact, the largest cryptocurrency so far has risen more than 15%, according to Coin360 data.

Even though this price brought XRP to just $0.24, which means XRP is still up more than 93% of the all-time high above $3.00, crypto analysts describe this latest upward trend which makes the movement move upwards.

CryptoWolf analysts, recently embarking on an update according to previous analysis, XRP finally started from a falling wedge pattern that has won price action over the past seven months. The crypto currency must also overcome macro-important horizontal resistance. With this in mind, analysts need the XRP needed to get the 0.382 Fibonacci retracement of all the wedges falling over the coming weeks, which shows a 25% rally on the horizon.

While XRP is being prepared to break higher, valuable movements depend on BTC prices. If BTC doesn't rise, altcoin won't be good. XRP, technical and fundamental things show that Bitcoin will soon get its strength back.

According to a recent report from Glassnode, a crypto and blockchain analytics company, the average BTC network hash level has only reached 1 year from 125 exahash. Although there is no instant opposition between Bitcoin hash rates and prices, the fact that miners continue to siphon computer resources for mining crypto assets is a good sign of the industry's long-term trends.

Source: NewsBTC