- Trader Predicts the Price of XRP to Breach $0.56 in Early December
- XRP is in a Win-or-bust Situation
The situation with Ripple’s XRP hasn’t been easy. The coin is still on a rough patch since the turn of the year. Even though Ripple has actively engaged in a massive expansion of its ecosystem, brought in more adoption and use cases for its XRP token by signing no less than 300 new users on RippleNet this year alone, the price of XRP remains below $0.3. As of when this content was published, the price of XRP is still declining by 2.85%. The number 3 most valuable coin by market cap is changing hands at $0.24. Now one crypto trader has analyzed the XRP/USD chart to come up with the conclusion that a likely outcome for the price of XRP could be the $0.56 area by early December.
XRP is in a Win-or-bust Situation
The XRP community has reportedly been eager for Ripple’s token to enjoy a price surge throughout this year. Now they need not worry much as one trader’s verdict is that XRP will rise to $0.56 by early December. On Wednesday, it was reported that XRP will likely turn bullish as we approach the holiday season. Today, a crypto trader with the twitter handle @TheCryptHawk has also shared a chart of his own regarding a bullish outcome on his Twitter page. The chart shows the possibility of the price of XRP to surge to $0.56 in the early part of December. This can only occur if the fractal shown on the chart plays out. If not, @TheCryptHawk believes that the price of XRP may drop to $0.17 or $0.18 and down to $0.12 eventually.
XRP (XRP) Price Today – XRP / USD
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Not long ago, XRP price dropped under the $0.25 area which is a support. The coin has held this position for several months. This happened despite the Swell conference, which was predicted to push the price upward. The XRP community was expecting a bullish action, since last November, as many experts believe the Swell conference triggered it. Hence, in January of last year, XRP hit an all-time high of $4. This year, the community expects a bullish outcome now and then. However, those expectations have so far been in vain. This is a strange situation because Ripple has expanded its network significantly and offered more actual use cases for its coin. Many traders are buying on the dip as the price of XRP is low hoping to reap high profits later should XRP value skyrocket.