Ripple bullish move has been rejected at 50 cents. Will price break above or drop further? The following 19 July Ripple price prediction gives useful clues based on Elliott wave theory.
This week started bullish for the Cryptos. While BTC broke above a resistance at $6800, Ripple lacked the momentum to break above the 50 cents significantly. Price is now running back to 45 cents. In the last update, we expected price to advance to 60 cents once 50 cents level is broken upside. Below 50 cents, the current bullish swing would look corrective. It that is the case, the bulls should beware. The chart below was used in the last update.
Price is returning upside after holding above $0.42. We should expect the rally to continue far above $0.52 up to $0.6 and $0.7 depending on the wave pattern of the rally. Stay tuned for the next update.
19 July Ripple price prediction: what next?
With price returning below 50 cents, we now have it trapped between 52 cents and 42 cents. To continue the bullish run, it will require a new rally above 52 cents. If that happens, the next bullish target is 70 cents as we count an impulse wave upside. If price drops further to 42 cents, we should be prepared for a bearish breakout with 35 cents as the first target. Stay tuned for the next update.
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