XRP Price Prediction: Will Ripple become the one-world currency?
- Ripple price ascends after CEO Brad Garlinghouse vows to hire 100 new employees.
- XRP price attempts to print a Morning Star candlestick pattern on the weekly chart.
- Invalidation of the bullish thesis is a breach below last week’s low $0.28
Ripple price sees newfound interest amidst resurfaced Central Bank Digital Currency rumors.
XRP price is on the move
Ripple price, as of Saturday, June 25, trades at $0.36. The digital remittance token has shown an influx in buying pressure on intra-hour time frames. If the technicals can sustain, the bulls will likely print a bullish Morning Star pattern which will be a favorable entry signal for long-term investors. As previously mentioned, a break above the psychological $0.40 barrier could trigger a buying frenzy in the coming weeks to propel the XRP price back to $0.51.
XRP/USDT 1-Week Chart
With talks of Ripple becoming a CBDC integrative solution, and a sudden demand for new employees, the legendary rumor of Ripple becoming a one-world currency to replace the US dollar is starting to resurface on social media.
History has shown that Cryptocurrenies can be highly aroused in value solely from social media hype. The CBDC speculation (though unproven) could be enough to create a FOMO-style market environment for the Ripple price in the coming weeks. A $0.51 target is conservative, but a $1.00 target will be unsurprising if the one-world currency myth continues to kindle on social media.
Anyone looking to join the bullish speculation should keep the previous weekly low as their invalidation point at $0.28. If the bears can breach this barrier, a fall to $0.20 could occur, resulting in a 40% decrease from the current Ripple price.
Author
Tony M.
FXStreet Contributor
Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.
