In this XRP price prediction for 2021, we take a look at key events that happened within XRP in 2020 on top of our technical analysis. With this, we will see whether XRP is a good investment in 2021 or not.
Ripple’s native asset XRP remains one of the strongest cryptocurrencies today. With a market capitalization of $10.5 billion at the time of writing, XRP is the fourth biggest crypto on CoinGecko.
But a plethora of events today are certain to influence XRP’s standing in 2021. One example is a number of banks that are using Ripple’s technology to offer better financial products. But the cherry on top is Ripple’s newly-launched service called Line of Credit, which allows users to buy XRP on credit with minimal chargeback costs.
Given all of these milestones, is XRP going to become a good investment in 2021? Let’s go to the charts for this XRP price prediction 2021.
Ripple Price Prediction 2020
XRP has gained a +18% growth rate from its last dip on September 24. Furthermore, it has continued its bullish momentum with an average trading price of $0.25.
XRP uptrend position (source: TradingView)
As seen above, XRP has regained its bullish position from its bearish dip of $0.22 last September 24. It is also trading above the Arnaud Legoux Moving Averages (ALMA), which is a bullish indicator. Meanwhile, the moving average convergence/divergence (MACD) is hovering above the signal line.
Conversely, XRP might crash to $0.20 or even lower. If this happens, the bulls need to gain more support to avoid overstaying in the bearish territory.
XRP Price Prediction 2021
So far, 2020 has been so good for Ripple. However, its current lawsuit may cause FUD since US legislators allege XRP as a security. In fact, Executive Chairman Chris Larsen said that they are considering relocating to other crypto-friendly countries like the UK and Singapore.
Will this affect XRP’s price in 2021? Let’s get to the bottom of this XRP price prediction 2021 article.
XRP price uptrend (source: TradingView)
As shown above, XRP has managed to maintain its uptrend position since Q1 of this year. It has also grown up to 136.04% from its dip of $0.106 last March to $0.2595 in October.
If this bullish run continues, XRP has a chance to close 2020 with a whopping price of $0.5. It might even skyrocket to $1 – $1.5 in 2021 if it follows the trajectory with minimal corrections.
However, if XRP fails to sustain its position and falls below the ALMA, it might crash to the Fibonacci level of 0.5. This is a 15.85% decline from its current position.
In conclusion, our conservative Ripple (XRP) price prediction in 2021 is $0.5. It has a chance to reach up to $1-1.5 in the second or third quarter of 2021 also.
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Name – Rohit M
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