Ripple is driving back to the 42 cents mark. Will price make a new low? The following 21-22 July Ripple price technical prediction looks at what could happen in the coming week.
Ripple continued the drop from 52 cents today. Price is now close to 42 cents completing a ‘rectangle’ sideways pattern. It’s very easy to think a break out of any of these sideways extremes could set up price for a much bigger move than we have seen this week. In the last update, we explained how the rally from 42 cents low looked sideways. Price could still break downside to continue bearish. It might also rally up to the 52 cents high to continue the sideways pattern. We will see how this plays out next week. In the last update, the chart below was used.
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.
21-22 July Ripple price technical prediction: what next?
Price is making the 4th swing within this sideways ‘rectangle’ channel of $0.42- $0.52 extremes. If price breaks below 42 cents, we should see it deeper to 30-35 cents. There is a chance of a 5th swing rally to 52 cents which if broken upside would see price to 60-70 cents. A lot also depend on how Bitcoin performs. We would see if price would break out of any of the extremes next week. Stay tuned for the next update.
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