At the beginning of the year, the XRP price prediction 2019 was bullish. Members of the XRP rich list were certain that this year would be a good year for the token. Right now, things aren’t so clear as people are now asking; is XRP a good investment in 2019?
Before you invest in volatile assets such as cryptocurrency, there are some things you need to know. Cryptocurrencies are unpredictable long-term. Analysts can make an XRP price prediction 2019 based on past, current and future trends but there is never a 100% guarantee that these XRP price predictions will happen as predicted. This is why it is important to invest only spare money in digital assets. The smartest digital asset investor is the one who doesn’t make the mistake of investing all he or she has in a given asset no matter how promising it looks.
Ripple XRP Development
XRP and Ripple, the company behind XRP, have had a fair share of controversy over time. Until now, the company has been unable to shake off the XRP SEC saga, XRP volume manipulation, and the rumors of bribery among other things. Notwithstanding, XRP news has been about the developments by Ripple that will promote the adoption of the XRP token.
XRP performed well in 2017 and 2018 even amid a bear market. Even if the current price of XRP is considered undervalued, it’s important to consider the use cases of XRP. XRP has created a lot of awareness because it is fast and affordable to use. Ripple’s xRapid platform which is powered by XRP is set to be the gold standard for international remittance. Compared to the traditional cross-border remittance service provider – SWIFT, xRapid is king. Transactions using the xRapid protocol are processed within less than 4 seconds while SWIFT may require hours and, sometimes, days to process such transactions.
Ripple has been able to convince more than 100 banks in the United States to use its technology and this includes some of the biggest banks in the world. However, the company is still facing challenges as many other banks are not ready to trust a new blockchain based protocol enough to surrender their power to control funds. If Ripple is able to convince more banks to use its xRapid protocol this year, the XRP price prediction 2019 will be influenced dramatically. XRP may sell as high as $1.06 before the end of the year.
XRP Price Prediction 2019 – XRP News Today
XRP (XRP) Price Today – XRP / USD
If you’re a digital asset investor who is considering buying XRP, you may want to wait for the price to fall below the resistance at $0.30 before you buy. A price surge is expected to happen before the end of the year but a dip will happen first.
Ripple XRP Price Analysis
According to the XRP Technical Analysis on NewsBtc; yesterday, there was a strong upward move initiated after ripple price broke the $0.3250 resistance against the US Dollar. The XRP/USD pair gained bullish momentum and traded above the $0.3300 and $0.3400 resistance levels. The upward move was such that the price traded towards the $0.3500 resistance area, where sellers appeared. A new weekly high was formed at $0.3489 before the price started a major downside correction. It broke the $0.3400 support and the 23.6% Fib retracement level of the last upside from the $0.3133 low to $0.3489 high.
The decline was such that the price even broke the $0.3320 support area, and the 50% Fib retracement level of the last upside from the $0.3133 low to $0.3489 high. However, the $0.3270-0.3280 area acted as strong support. There is also a key bullish trend line formed with support at $0.3270 on the hourly chart of the XRP/USD pair. Besides, the 100 hourly simple moving average, currently near $0.3270 is also acting as strong support. The price also tested the 61.8% Fib retracement level of the last upside from the $0.3133 low to $0.3489 high.
Therefore, there are chances of a fresh increase above the $0.3320 and $0.3350 levels in the near term. If buyers gain pace above the $0.3350 level, the price is likely to climb back above $0.3400. On the other hand, if there is a downside break below $0.3260 and the 100 hourly SMA, the price could move back in a bearish zone.
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