As Ripple’s XRP Holds Key Level, Analyst Eyes 100% Rally: Here’s WhY

Although all cryptocurrencies have had it tough over the past few weeks, XRP has been hit especially hard.
 The altcoin, the third-largest crypto asset by market capitalization, fell as low as $0.105 on Thursday from its 2020 high of $0.345 established just weeks earlier, marking a drop of 70%.However, the cryptocurrency rapidly bounced back above $0.13 and is now trading at $0.15 as a recovery in the digital asset markets seems to be underway.


 A top trader has suggested that this recovery could set the stage for a wider rebound in the value of XRP.

XRP Could Rally 100% As Key Support Holds, Analyst Suggests

 Despite the recent weakness seen in the XRP markets, Calmly, a full-time digital asset trader, has expressed optimism about the asset, writing on Saturday that it may be time to “start accumulating Ripple.

”He remarked that XRP has held a long-term support zone around $0.13  which the cryptocurrency decisively bounced off of in 2017  suggesting that a bull case remains intact.
 Although Calmly did not give a concrete price prediction, his chart indicated XRP has room to rally nearly 100% to $0.27-$0.30, where there exists a long-term resistance band that the asset is likely to have trouble breaking through on first go.

Veteran Trader Begs to Differ
Although Calmly is expecting XRP to begin to rally as it held the key $0.13 level, another prominent analyst has begged to differ.

Read the full topic at
https://www.newsbtc.com/2020/03/15/as-ripple-xrp-key-level-analyst-eyes-100-percent-rally/
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