We’ve only just begun the third day of February and it seems like the price of Ripple (XRP) is starting off strong with the first quarter of 2020. The crypto has been surging for the majority of the last week, showing that it still has some bullish support behind it.
It has been a very rough 2 years for this crypto, considering how much it was shunned by most investors, deeming it as a worthless investment, and a rabbit hole where beginners would get lost in and lose money.
However, XRP has showcased time and time again in the past that it has what it takes to be a desirable cryptocurrency for long-term players. Sure it had one of the worst slumps after the 2017 crypto craze, and nearly froze to death during the crypto winter, but there were some surges during the 2019 crypto Summer as well.
Now it’s time for a completely revamped crypto winter for Ripple, well at least that’s what XRP predictions from InvestingHaven are talking about. And not only this company specifically, but bullish signals are also flaring up all over the crypto community, shilling XRP for the coming weeks. But what does all of this look like on the chart?
Ripple (XRP) on the charts
One look at the chart is enough to see that the coin has finally found some bullish support. The angle at which the coin has found some consolidation is enough to let us know that this is a trend in the making. But it also lets us know that it’s a trend that could crash really badly if not administered correctly.
Every time we saw growth at that angle from any cryptocurrency, almost always it was accompanied by a similar angle downtrend within days.
Should the current price of $0.253 somehow fail to maintain its balance within the week, it’s likely for bears to take control of the market once again. It is a very thin line to walk on, but the rewards are more than worth it.
The maximum that XRP can reach at this point is $0.479, which is nearly a 50% increase from the current position. But should the $0.247 support level fail to maintain balance, there’s a chance for XRP to crumble down to $0.183 once again.