XRP Price Prediction – XRP’s Declining Momentum May be Followed By an Inevitable Price Surge – August 7, 2020 

  • XRP’s Bullish Momentum Diminishes as the Token Finds Stability in the $0.3000 Region
  • Analysts Believe that the Bulls Aren’t Done with the Market Yet

Ripple News Today – XRP’s bullish momentum has started to subside as the token faced region in the $0.3100 region and started declining. Now, the token has found relative stability at the $0.3000 level but analysts believe that the bulls aren’t out of the market yet. If the 45% surge in seven days is just the beginning, how high will XRP surge before the bull rally finally comes to an end? Gaining bullish momentum for XRP has indeed been difficult since the token entered a downtrend so there is a possibility that the recent bull run is no more than an anomaly.

XRP Price Prediction – Did the Bulls Leave the Market?

At the time of writing, the price of XRP was $0.306973. It was up by 1.82% against the USD and up by 0.73% against Bitcoin BTC. The trading volume over a 24 hour period was $1,979,125,034 and the market capitalization was $13,771,609,131. Less than two months ago, the token fell to the $0.1500 level. So, you can understand why the current price action has led to a lot of hype in the space.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.270
-8.30%

According to an XRP price prediction on NewsBtc, XRP is currently in an equilibrium. At first, the three year bear momentum declined allowing the bulls to gather momentum for an upward surge. After the current equilibrium period is over, the analyst predicts that the price of the token will start surging once again. This will be a welcome development because XRP is still over 95% below its all-time high.

The technical indicators for XRP show that the token is gearing up for another rally. XRP is currently in the overbought zone hence the lack of bullish momentum. At the same time, there are some signs of a bearish divergence according to the MACD. A few days ago, the MACD for XRP turned bullish for the first time in almost two years and this was followed by the 45% price surge. The Ripple effect of this is currently reflecting on the price of XRP. Right now, the two moving averages are at the verge of crossing. If this happens, the bulls will resume their rally with full force. The last time they crossed, XRP surged by more than 200% for its black Thursday lows.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020 

It’s important to remember that the cryptocurrency market is highly volatile and unpredictable. Irrespective of how great a price prediction might be, there is no full-proof way to determine the future of a token. So, even if analysts are currently bullish about XRP, there is still a strong chance that the token will lose the support at $0.3000 and decline further against the USD.

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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