Ripple News Today – Analysts Believe That XRP Has Bottomed Out in the Current Bear Market – July 7th, 2020 

XRP2
  • Ripple XRP Has Been Declining Steadily Against the USD for a Long Time
  • Analyst Believe that the Token Has Bottomed out in the Recent Bear Market 

Ripple News Today – The negative price action of XRP is no longer news in the cryptocurrency market. The token hasn’t been doing well for the last few weeks. Now, analysts believe that the price of the token has most likely bottomed out and a parabolic bull run will follow shortly. According to the XRP price analysis on NewsBtc, three primary variables support this premise. The technical charts show that the TD sequential indicator has appeared and it is a major buy signal. History has also shown that the token typically surges significantly after it bottoms out.

Ripple News Today – Has Ripple Reached a Bottom?

Bitcoin has always had a strong relationship with all the other coins in the market. Even if the price of the XRP token isn’t as correlated to the price of Bitcoin BTC as other cryptocurrencies in the market, there is still something there. The price of Bitcoin BTC has bottomed out and this is one indication that the price of Ripple XRP may have also bottomed out when it fell to the $0.1700 level. As the XRP token is falling against the USD, the XRP to BTC trading pair has also been falling freely against the USD.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.308
3.01%

Against Bitcoin BTC, XRP reached 23000 satoshi during the 2017/2018 cryptocurrency market bull run. Today, the XRP token is at 2000 satoshis. Despite this low, the price of the token might be primed for a bull run soon. Downtrends are usually followed by upward surges. So, it’s not a surprise that analysts are predicting a bull run for XRP. One of the key resistance that stood in the way of XRP’s surge against the BTC is now acting as support. There is a morning star pattern on the chart and the MACD indicator has also moved to the positive level.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

At the time of writing, the price of the XRP token was $0.183744. It is up by 0.14% against the USD and down by 0.65% against Bitcoin BTC. The trading volume over a 24 hour period is $1,322,985,448 and the market capitalization is $8,132,125,021. The technical predictions are difficult to believe since the long-term sentiment of the token is bearish. Every day, more people are losing faith in Ripple and the XRP token.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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