790+ Day Support: Analyst Says XRP Will Cross $50 with Possible Short-Term Pit of $5 - $15 - Today's Gazette - Cryptocurrency, Bitcoin News
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790+ Day Support: Analyst Says XRP Will Cross $50 with Possible Short-Term Pit of $5 – $15

XRP to $50

Cryptocurrency

790+ Day Support: Analyst Says XRP Will Cross $50 with Possible Short-Term Pit of $5 – $15

Experts, investors among others in the market are eyeing possible bullish breakout beyond the all-time peak for Bitcoin, Ethereum, XRP and other altcoins, but signs for such are still partially obscured.

The 30% pullback that succeeded the recent bullish rally where Bitcoin was pushed to around $13,800 earlier made analyst voiceless, but the latest shake-off that returned Bitcoin and altcoins on the upside trend have awakened forecasts from experts.

Some claimed it is normal for Bitcoin to witness 30% pullback on the path to the ceiling and we should not be distracted, while another proclaimed that after the pullback an average gain of 153+% will come to place, and a massive plunge will then follow.

Nevertheless, Bitcoin, in this latest turnaround, has anchored a strong support around $10,000, and it is trading for $11,760 with 4% added value in the last 24 hours. XRP on the other hand is still in the red side of the market with 0.79% value drop to be priced below 40 cents.

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XRP to Cross $50 with Possible Short-Term Pit of $5 – $15

Market analyst known as CryptoManiac has declared in a tweet that XRP will soon witness a major breakout in the market. The analyst, made this prediction after observing the past and present trend of the altcoin in the market.

XRP to $50

CryptoManiac revealed that we are already sitting on a ‘790+ day support in a form of a trend line today’, and if history repeats itself, XRP will likely witness a massive breakout.

“Last time we had similar trend line , it took just around 944 days before we saw an immense breakout occur,” CryptoManiac stated.

According to the trader’s analysis, if the same pattern is repeated, XRP will make a breakout in December 2019, and we will exceed $50 price and a probable short-term dip of $5 – $15 will follow.

CryptoManiac added that if fractal or movement of the altcoin is not used as a determinant, XRP could also see a major breakout ‘anytime from now’ since market price is also being controlled by artificial effect and the ‘wall between institutional side and retail side’ can break anytime.

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Viewing it from the artificial pump end, the trader said if a financial institution transacts $1,000,000 a day, about 2,500,000 XRP would be freed for such a transaction.

“What about more than one?”, the analyst questioned, averring that such would be undoubtedly massive for XRP price.

Image Credit: Trading View

I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day. 

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