XRP Long-term Analysis Indicates Bearish Trend, Can XRP Rise Again

On today’s XRP news, the token has made headlines for many reasons in recent months. XRP prediction 2019 from most analysts have been bullish even though one believes the coin won’t surpass $10. Presently, the entire crypto market is in the red except for a few altcoins such as Dogecoin, Vechain and BAT. XRP has lost -0.53% at press time according to Coin Market Cap. The charts suggest that this bearish trend will continue, but for how long?

XRP (XRP) Price Today – XRP / USD

# Name Price24H %
3
ripple
XRP(XRP)
$0.273
1.66%

XRP is more than just an ordinary cryptocurrency. Despite the fact that XRP wasn’t primarily conceived for the purpose of conducting transactions, the speed at which Ripple the network (a DLT Blockchain-based platform) confirms transactions, along with its platform’s low fees, have reportedly made XRP a widely accepted digital asset. This, along with mass adoption and many more developments have pushed the digital asset to become the third most valuable cryptocurrency by market capitalization.

Also, the digital asset is seeing more adoption as its parent company, Ripple, partners with Fintech companies and Startups.

XRP Prediction 2019/XRP on a Downward Correction Since the Turn of this Week

The XRP price has reportedly been on a downward correction since this week began. As of April 7, the Bulls went on to test the $0.37 price position which is a resistance level. The position was resisted as well. After which the XRP price initiated a downward correction. Its price fell gradually and broke down into the 12 and 26-day EMAs. The bears have also broken all support levels XRP had attained recently. It is now approaching the $0.32 price position. The bears also broke the $0.34 price region. $0.34 was reportedly the previous range-bound price zone that encompassed the $0.28 and $0.34 price positions. Looking at the downside, the XRP price will fluctuate between range bound regions.

XRP Prediction 2019/XRP To Face More Selling At $0.31and $0.32, XRP in Bearish Territory

Going by the current trendline, it is safe to say the XRP price will face more selling at $0.31 and $0.32. The XRP price is currently trading at $0.32 as at the time this report was published. Both the MACD and the signal lines are above the zero line. This indicates a buy signal for the coin. Additionally, the cryptocurrency price is currently below the 12 and the 26-day EMAs which on the other hand indicates that the XRP price is in bearish territory.

XRP News: XRP Users Now Have the Option to Top-Up Their Phones Using XRP

As stated above XRP has managed to navigate its way to the top with tons of features and growing adoption. The latest firm to enter work with XRP is Uquid. Uquid recently announced that its users can now use the XRP token to top up their mobile devices. The possibility of completing micro payments without dealing with large fees now makes XRP very attractive for users, considering the fact that other similar services accept other digital tokens.

This new solution that allows users to top-up their mobile phones with XRP will be available in no less than 150 countries. Uquid also commented that they offer support for more than 600 operators around the world. This, in essence, means the firm covers a good part of the global crypto market.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.