Ripple’s XRP price sideways trend for the last few was a matter of concern for many. Moreover, the asset experienced a couple of rejections as it attempted to rise high. Yet the bulls geared up since the previous trading day and started to uplift the price. The price rose notably since the early trading hours but also experienced a slight pullback as of the press time.
The price is currently on the verge of forming lower highs, aiming to form higher lows in the coming time. And eventually, propel towards the higher highs at 70.5% Fibonacci retracement level at $0.783. As predicted by an analyst, RESEARCH 24/7, the bulls are anticipating 20% gains. And hence the XRP price may test higher lows before skyrocketing to the higher levels.
However, the market sentiments for the asset has risen to a larger extent. The bullish trend goes up by 61.4% with more than 5.1K social posts. Yet the price change is restricted to 3.1% standing at $0.6819 at the press time. Nevertheless, the fresh selling pressure might have relaxed the bull run, yet may resume very soon.
XRP Price’s 2-Digit Target Still Intact
Despite the low-key trend and frequent pullbacks, the XRP price target remains unaltered that resides somewhere above $10. One of the popular analysts and a strong XRP proponent CryptoBull2020, believes that Bitcoin and XRP may surge to a large extent initially. But BTC price may experience a larger dip whereas XRP price could continue with the bull run to hit the target of around $15 to $20.
Interestingly, the analyst has predicted the BTC price to hit $80,000 amid the bullish wave which could escort the XRP price to $10 initially. No doubt the Bitcoin price or the XRP price is trending within a small and narrow margin, yet a massive breakout may be fast approaching. The deadly mid-may crash squeezed most of the assets to their respective lower levels. And hence a strengthened recovery may be imminent.