- Cryptocurrency Analyst Discourages Investors from Holding XRP, Says Its not an Effective Marketing Strategy
- Ripple XRP’s Failure to Gather Bullish Momentum Above the $0.2000 Means Lower Lows Maybe on the Way
Ripple News Today – XRP and its parent company Ripple, are the two most controversial names in the cryptocurrency community. Over the years, many top analysts in the cryptocurrency community have condemned the XRP token. Yesterday, another top member of the cryptocurrency community implied that traders who are holding XRP are wasting their money and raising their hopes for nothing. According to the analyst, the price of the token is not encouraging at all. Over the last 3 years, Ripple XRP has been on a downward trend. The rest of the cryptocurrency market has indeed been losing momentum over the years but XRP has suffered more than any other top cryptocurrency.
Ripple News Today – Is Holding Ripple a Waste of Time?
Currency trading has always been a risky game. However, trading cryptocurrencies is even riskier than regular FX. This is why cryptocurrency traders use more aggressive marketing strategies. Short-term traders look for every opportunity to buy when the prices are low and sell when the prices increase. Long-term traders buy when the prices are low and hold for years hoping that the token will eventually surge. Ripple XRP, on the other hand, has been falling significantly against the USD for years. So long term traders are currently holding at a loss. Even gaining short-term trading is difficult for traders in the XRP community. With XRP down 94% from all-time high, the analyst said;
XRP (XRP) Price Today – XRP / USD
“Clearly, the chart shows that holding XRP is not an effective strategy,” said the analyst. “I don’t know how anyone can argue about that. Buying when the market resets after a long deep retrace and shows strength has been a good strategy but you have to sell it.”
The analyst said that there are two possible trends for XRP. He said the price of XRP might either blow off the weekly price above 2,300 stats, igniting an upward rally in the process. He said that since XRP is already down by 94%, it could just reach the 95% mark. Until the token either breaks out or breaks down, he asked traders to be careful with their price action.
Ripple Price Prediction 2020 – XRP Fails to Gain Momentum Above the $0.2000 Level
Meanwhile, the price of Ripple XRP is still struggling against the USD. While it is hovering above the $0.2000 level, there is still a strong risk of lower lows if the token doesn’t gain bullish momentum above the $0.2000. The price is $0.205218 at the time of writing. It is up by 1.03% against the USD and down by 0.44% against Bitcoin BTC. The trading volume over a 24 hour period is $1,349,255,774 and the market capitalization is $9,052,736,036.