- Ripple XRP Has Been Trading in the Green for the Last Few Days as Market Recovery Kicks In
- XRP Came Close to the Accumulation Zone Before it Moved Lower Against the USD
- The Next Time the XRP Token Tests the Accumulation Zone, it Will Set Sights at $0.2800
XRP Price Prediction 2020 – XRP had been moving higher like Bitcoin BTC, Ethereum ETH, and all the other tokens in the market over the last two days. For the first time in weeks, XRP managed to gather enough bullish momentum to attempt a break into the accumulation zone. The token has been struggling to hold the line above the $0.2000 level and the bulls took control of the market eight after it tested the $0.2190 low. Since then, XRP has moved higher against the USD breaking several resistances along the way.
XRP Price Prediction 2020 – XRP Might Reach the Accumulation Zone Soon
At the time of writing, the XRP token was trading at $0.239804. It was up by 0.42% against the USD and up by 1.60% against Bitcoin BTC. The trading volume over a 24 hour period was $1,738,462,725 and the market capitalization was $10,814,509,407. The token moved near the resistance at $0.2600 but the bears quickly moved in dragging the XRP token away from the accumulation zone where the bulls would have taken full control of the market. The current consolidation of the XRP token is part of the market-wide rally. Bitcoin BTC is rising and the other tokens are rising at the same time. Bitcoin is currently trading at $10,723.14. It is up by 0.98% against the USD and up by 2.16% against Bitcoin BTC. The trading volume over a 24 hour period was $54,272,760,048 and the market capitalization was $198,382,623,662.
XRP (XRP) Price Today – XRP / USD
If the price of Bitcoin BTC rises above the $11k level, it will make higher highs near-term. If the XRP token doesn’t get to the accumulation level soon, it might move back to the $0.2200 level before it sees another major uptrend. One analyst has said that the XRP token will rally by 20% to the $0.28 level near-term. The rise above the $0.28 level will allow XRP to retest the $0.30 level for the first time in weeks. As reported by NewsBtc;
“XRP: The market is overly bearish, but the markets are actually on some impressive support zones to accumulate some positions. Similar to XRP. Patience pays. Looking at some longs here, which could be towards $0.28 first in the next month.”
XRP isn’t out of the woods yet despite the price action of the token in the last two days. In the next few days of trading, we will know what direction the XRP token will take in the next few days.
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.