Ripple Price: Is The Forecast Bullish or Bearish?
Jan 28, 2015 --- (ARCHIVED) Altcoin Price Reports
Ripple Price: What Is Next For The World's Number 2 Cryptocurrency?
The ripple price is currently $ 0.015442 in US Dollar based on Poloniex. Ripple is the world's number 2 cryptocurrency based on market capitalization. It has overtaken Litecoin in 2014. With $ 478,369,633, it is about 1/7 the size of bitcoin and 6.5 times larger than Litecoin.
1. Long Term Ripple Price Forecast (XRP/BTC)
As illustrated in our previous ripple price forecast, ripple prices kept going down as expected over the past week. This happened because we have shown that the ripple price was stuck in a downward channel. Looking at the long term, we can now see an even larger parallel trend channel. Only a clear break out or break down of this channel will indicate a trend change for the ripple price. 0.00005 BTC is a very strong support zone: There is the lower trend line and the horizontal support.
Summary Forecast Long Term:
Down as long as trading in red channel. Breakout zones: Bullish above 0.000085 BTC (target 0.000099 BTC). Bearish below 0.000049 BTC (downside target 0.000025 BTC).
2. Short Term Ripple Price Forecast (XRP/BTC)
Over the past two days, ripple prices have put a short term bottom in place. The ripple price rallied from the low around 0.000052 to 0.000064 BTC. It now looks like we will see a short term rally, particularly if ripple prices can mount a breakout above the red trend line. A rally above 0.000061 would elevate this potential.
Summary Forecast Short Term:
UP as long as holding above 0.000052 BTC. Breakout zones: More Bullish above 0.000062 BTC (first target 0.000072 BTC). Bearish below 0.000051 BTC (downside target 0.000025 BTC).
Have a great Crypto-Trading Day!
Do you want to learn more about Cryptocurrency Forecasts, Our Premium In-Depth Weekly Report, Daily Updates, and real-time Price Alerts? Please visit BullBear Bitcoin Analytics now! The Bitcoin and other cryptocurrency forecast are available as part of the Active Pro Complete package.
Disclaimer: Please always do your own due diligence, and consult your financial advisor. Author owns and trades bitcoins and other financial markets mentioned in this communication. We never provide actual trading recommendations. Trading remains at your own risk. Never invest unless you can afford to lose your entire investment.