News

Ripple Price Prediction And Analysis For May 21st – XRP to Recover

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The XRP is recovering on May 21 after the previous selloff, trading around $0.4013.

Long term wise, after getting to the bottom at $0.2780, the crypto started trading sideways near $0.4540.

On H4, the price is testing the ascending channel support, which may then push the XRP to the resistance at $0.4540, and then to the ascending channel upper boundary at $0.5240; this is well confirmed with the MACD heading upwards.

On H1, the price is making lower highs, which is forming a descending channel. With the Stochastic headed down, the price may well hit the current channel support and reach first $0.3460 and then the major channel boundary at $0.3460.

Related Post

After analyzing Ripple quarterly reports, Coin Metrics discovered discrepancies with the blockchain, which means the coins are allocated not in the way the RIpple Labs management said.

According to Coin Metrics, the number of XRP coins is by 200M ($84M) more than it is published officially. Meanwhile, the coins are allocated in such a way that at least $1B may remain, which is reasonable but may lead to tokens being released even faster, with all tokens being released in 21 years.

With more tokens, the price won’t be able to rise according to the exchange conditions.

Previously, the XRP got supported by the news on New York City based clients being able to trade XRP tokens in Coinbase.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Guest

The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

Share
Published by
Guest
Tags: rippleXRP

Recent Posts

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

3 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

13 hours ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

13 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

13 hours ago

Which Crypto Could Turn $1K Into $100K: Algorand (ALGO), Aptos (APT), or Rollblock (RBLK)?

Crypto investors are constantly searching for promising opportunities to diversify their portfolios and Algorand, Aptos,…

13 hours ago

Plus Wallet vs. OKX: A Look at Security, Privacy, and Global Accessibility

A Complete Comparative Analysis of Plus Wallet & OKX: Security, Privacy, Accessibility & Rewards Choosing…

18 hours ago