XRP is currently the 6th largest cryptocurrency globally. After a rocky few months, XRPs bullish momentum has come to fruition – with all-time highs looking likely to be breached once again. In this article, we present our XRP Price Prediction for October.
XRP Price History
The Ripple price is a bit volatile, but it has shown tremendous growth over time. In December 2017, when the crypto was valued at about $2 per token, prices were climbing quickly due to investor confidence that their predictions would come true by the end of the year or early next year!
This optimism, unfortunately, did not last long as we saw a significant decline begin in January 2018, which ended up dropping XRPs down around 60%. It’s been a pretty wild ride since then, though with many upsweeps along wayward curves giving us all something else worth smiling about–even if only just barely so.
Cryptocurrencies are notoriously volatile, and XRP has been no exception. From its all-time highs of January 2018, we’ve seen it decline steadily toward levels we’re at today. Yet, even through these challenging times, there have been brief moments where investors could reap some reward.
They include September ’18 and December 2020, when prices peaked slightly before crashing back down again only to find themselves here now with little hope left in sight.
One of the main reasons the XRP price live hasn’t performed is the ongoing litigation against Ripple from the SEC. CEO Brad Garlinghouse and co-founder Chris Larsen have had legal proceedings against them for allegedly selling unregistered securities worth more than $1.38 billion. This litigation has been going on since December 2020 and has hurt the XRP price.
XRP’s price may be on the rise, but it doesn’t seem to have reached its peak yet. July 2021 has showcased some positive momentum with an increase in value around 145% since last month – which could mean that we’ll soon see XRPs heading back up towards prior heights and possibly even surpass them again!
XRP Price Prediction, Technical Analysis
As you can see from the price action below, XRP broke out of its descending channel and formed a solid support level at $0.52 in June! Since then, it’s been on an upward trend with some fantastic bullish momentum – increasing almost every day over July month-to-date.
The recent developments in the market seem to be supporting a break out of resistance at $1.60, and we could see more upside moving forward.
Next, the highs of $1.95 would be next from a technical standpoint. This area is also at a strong resistance level as prices fell by around 50% last time they reached this point. Expect some consolidation before you can break through into new territory.