XRP News Today – The digital currency market is currently deep in the red, with Bitcoin (BTC) leading the downtrend. Bitcoin (BTC), which just topped out at $7,850, is now down to the $7,300 range, after a decrease of about six percent. The digital currency has dragged the rest of the market along, as all the top ten cryptos in the market are deep in the red.
Recently, XRP – the third-largest digital currency by market cap – plunged below the 25 cents mark. After breaking below that support level, a digital currency trader predicted that the digital currency would likely plunge further.
XRP Continues Its Downtrend after Breaking below a Psychologically Important Level
At the time of writing, the third-largest digital currency by market cap is trading at $0.221 after a decrease of about four percent over the past twenty-four hours. A few days ago, XRP broke below the psychologically crucial level of 25 cents. This paved the way for further downtrend and it is yet to find a new support level.
This year, Ripple put in so much effort in its market expansion. The CEO of Ripple – Brad Garlinghouse – said that Ripple now has more than three hundred customers that are testing the technology of Ripple – On-Demand Liquidity (formerly xRapid) and xCurrent. He made this announcement during the Swell Conference that took place in early November in Singapore.
One of the clients testing the technology of Ripple is MoneyGram – remittance giant – sending funds from the US to Mexico through XRP.
Crypto Trader Predicts that XRP Price May Drop to $0.13
All these development, including the Swell Conference, was expected to boost the price of XRP. However, that did not happen, leaving many XRP holders frustrated. Now, @Trader1SZ – a digital currency trader – is predicting that the price of XRP may plunge further and hit $0.135. In a tweet, the crypto trader said that provided we hold below the mid-range, we should expect the price of XRP against the US dollar to drop towards $0.135 next.
— TraderSZ (@trader1sz) November 30, 2019
XRP Price Fails to Respond Positively to Bullish Sentiments
Ripple has been working towards the increased recognition and adoption of XRP over the past years. XRP is increasingly becoming popular, and the adoption of the digital currency is also on the rise. However, the price of XRP has not been responding as expected. Will the prediction of the crypto trader happen? Will XRP price continue to head south?