Ripple Price Is Preparing For A 30% Surge: Will XRP Bounce Today?

The peak for Ripple’s XRP token in February showed that this coin has a potential to go near the $0.30 levels now. However, as it stands, the Ripple price is preparing for a new surge and looking to secure the $0.20 levels first before it starts rallying more upside.

From its peak in February, XRP has fallen off by just under 50%, crashing under the pressure of a bear market across many asset classes. In the cryptonews today, we are analyzing the XRP price in detail and showing why this third largest valued coin has a potential of going higher very soon.

The analyst @LomahCrypto recently showed that the Ripple price is preparing for new runs, predicting a scenario where XRP appreciates by nearly 30% in the coming two months. This points to the $0.24 price point as the next target for the Ripple XRP price.

Even though Lomah did not go into why he thinks this price action will transpire, his chart clearly indicates that the Ripple price is printing a swing failure pattern at a key level of support, boding well for the cryptocurrency in the near future.

The digital analyst Credible Crypto also took to the XRP news today and explained that the recent rally in the crypto market allowed XRP’s long-term chart to print a rather positive sign. This week, XRP reclaimed a multi-year trend line and managed to bounce off a downtrend from the all time high that the cryptocurrency was rejected by (even four times) but has since reclaimed.

When managing to make this breakout, Credible wrote that this is a sign that “the bottom is in” and added that the Ripple price is preparing to go to the upsides in the coming months. However, let’s not exclude the fact that the most dominant cryptocurrency Bitcoin (BTC) is also in a great momentum and above $7,200 for the first time in weeks.

For BTC, the number of daily new entities has not been this high since April 2019, as the rally from the $3,000s and $4,000s bottom to the $14,000 peak by late June was starting.