Ripple rallied rather less ambitiously than other major coins in the last one week. The following 21-23 February Ripple price prediction places XRP with BTC to know which will more likely be stronger than the other in the coming weeks.
21 February, AtoZForex – After a fast dip to 55 cents, Ripple recovered slightly upside above the $1 mark. In the last update on XRPUSD, we predicted that the rally would continue to $1.5 before the next drop. Ripple has performed very poor after the strong rally that greeted the year. It dropped from an all time high (close to $4) to 55 cents. Since the 4th day of the year, XRP has performed below BTC as the pair dropped to 0.00008935 from 0.0002297 (up to 62% loss). Will the bearish move continue?
In the last update on XRPBTC, we had two scenarios. One of them expected price to touch lower prices below 0.00008342 previous low, in a double zigzag corrective pattern. The chart below was used.
There is possibility of a double zigzag formation extending to 0.00004-0.00002. This would mean that Ripple gets even deeper
The chart below was used in another scenario.
A double zigzag corrective pattern could have completed downside. A new impulsive bullish wave could be seen as price resumes the trend upside. Price is lurking between 0.0001477 and 0.00008342 important levels. This scenario will be valid if price breaks above the 0.0001477.
Since the last update, price oscillates between 0.0001477 and 0.0000834 thereby not validating or invalidating any of the scenario. It seems a different approach would suffice. The chart below shows what patternmis emerging.
21-23 February Ripple price prediction – XRPBTC Forecast
It seems price would continue downside as a triangle pattern is about completing. The bigger picture looks at a double zigzag pattern with a triangle wave X. Wave X could make one more swing upside before breaking below the wave B-D support line. 0.0000448 is the bearish target. Stay tuned for the next update.
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