In the world of cryptocurrency and digital assets, there are always conflicting opinions on how the future price will look. Especially when considering how so many projects derive value from Bitcoin, it has become a lot more difficult to find something worthwhile. When it comes to the XRP price, the short-term predictions and expectations are all over the place right now. That is a bit unusual for one of the more stable assets on the market today.
The Big Bear Flag Conundrum
When it comes to performing technical analysis on any price chart, there will be many different and conflicting views first and foremost. The chart shared by Botje11 shows there appears to be a major bear flag forming for XRP, which can easily shake things up in the coming days. If this chart lays out as expect, the $0.35 level will become very crucial for the XRP price moving forward.
More specifically, a drop to $0.35 can, according to this user, trigger a further decline all the way to $0.32. Although that would not necessarily be catastrophic for XRP in the short-term, one has to wonder what this will mean when looking at the bigger picture first and foremost. One has to keep in mind XRP has seen plenty of sideways momentum lately, although that doesn’t necessarily warrant a bearish outlook either.
A Good Time to go Long
Over the past few months, there hasn’t been too much positive momentum associated with XRP. Even though this asset has maintained its value without too many problems, going long is not necessarily something a lot of users are exploring right now. According to Abubakaraziz333, now would be a good time to go long on XRP, primarily because higher lows have been recorded over the past week or so.
Although the comments on this chart are not too kind, the original outline certainly seems to check a lot of the right boxes. The recent XRP price momentum has confirmed higher lows are being hit lately, although today’s momentum may very well invalidate this chart altogether. Assuming that is not the case, however, there is a chance XRP will return to $0.47 in the coming days. A bullish outlook, albeit one that will be difficult to achieve.
The Bearish Diamond Pattern
It does not happen all that often traders highlight a diamond pattern on a price chart. While that shape is definitely visible on the XRP price chart right now, it is a bit unclear if this will automatically lead to more bearish pressure. According to Yaghouti, the XRP price will continue to dwindle in the coming days, and even go as low as $0.36. While that is not the biggest drop-off, it is expected this is only the beginning of more bearish pressure waiting to materialize.
This particular price prediction highlights some interesting aspects about the future XRP value. A dip of just $0.01 or less is not that big of a deal, even though it would represent a 3% decline for the asset itself. All of this further hints at more price stability first and foremost, rather than actual bearish or bullish movements. That stability can pave the way for an interesting final month of 2018, at least where this particular digital asset is concerned.
Want more XRP chars? Check out our previous compilation of XRP Price predictions.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.