Ripple stays between $42 and $52 for almost a month. Will there be a breakout of the extremes? The following 25 July Ripple price prediction looks at XRPUSD based on Elliott wave theory.
Despite Bitcoin price surge in the last one-two weeks, the major Alt-coins remained confined with no assured direction. They were silent while Bitcoin that used to be their trigger roared upside. Ripple has only gained a modest 3 cents since the start of the week. The rally is corrective suggesting lack of bullish strength. In the last update, we used the chart below for XRPUSD.
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.
25 July Ripple price prediction: what next?
Ripple still looks bearish. Unless a break above 52 cents happen, the picture is bearish. The chart above has started counting a bearish impulse wave down to 30 cents after a break below 42 cents support level. Stay tuned for the next update.
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