XRP Price Prediction – XRP May be Stuck in Decline But a Parabolic Bull Run is on the Way – August 9th, 2020

Ripple XRP Price Prediction
  • XRP is Stuck in the $0.2900 Level following Brief Price Correction
  • Analysts Predict a Parabolic Bull Run for the Token After this Minor Correction 

Ripple News Today – About 24 hours ago, XRP fell below the support at $0.3000. It’s been lingering in the $0.2900 level since then. XRP entered a price consolidation pattern along with Bitcoin, Ethereum, and many other top cryptocurrencies on CoinMarketCap. While the downtrend might be in place for most major tokens, some lesser-known altcoins have been posting gains. Chainlink (LINK) gained by 40% in the last 24 hours alone and it is just one of the other tokens that are outperforming Bitcoin BTC. XRP might be in the $0.2900 level now but there is still a strong chance that it will enter a parabolic bull run eventually.

Ripple XRP Price Prediction – XRP Predicted to Surge to the $0.4000 Level

At the time of writing, the price of XRP was $0.293472. It is down by 0.65% against the USD and down by 0.87% against Bitcoin BTC. The trading volume over 24 hours is $1,346,796,866 and the market capitalization is $13,165,919,748. While Link and many other altcoins were making progress, XRP only gained 0.40% against the USD. It also underperformed Bitcoin by 1.2% within the same timeframe. To test the predicted $0.4000 level, XRP needs to gain by at least 33% against the USD. Analysts believe that the token might surge this high of it successfully crosses the pivotal $0.30 horizontal level.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$1.08-1.92%

Yesterday, a popular XRP analyst posted the prediction of Twitter. He said that the price consolidation for XRP might continue to the $0.27 and $0.2850 support. If this happens, the token will expand and most likely surge by more than 33% according to the analyst. Right now, the key resistance for XRP is at the $0.321 level over the last seven days. Another trader said that the token will surge by 45.6% to the $0.468 level if it crosses the resistance at $0.321.

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

Right now, XRP has a lot riding on Bitcoin’s success. Matt Maley said that Bitcoin BTC might be primed for a bullish surge as well. In his words;

“The break above $10,000 is very compelling and should lead to Bitcoin higher. It might be able to work off this condition with a sideways correction, but its upside potential is limited over the next week or two.”

The foremost cryptocurrency per market capitalization is currently trading at $11,667.19. It is down by 0.48% against the USD with a trading volume of $18,343,809,071 and a market capitalization of $215,325,522,860. The next few days of trading will determine what direction the token will take.

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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