Bitcoin and some other altcoins appear to be the only digital assets in the green today. For today’s XRP price forecast, the price of XRP although fluctuating between $0.30 to $0.34 has been taken a somewhat downturn in the past 24 hours having lost 0.31% in that period. For our XRP news today, XRP USD live price is changing hands at $0.307238 as of press time per data given by CoinMarketCap. All in all, the price of XRP although in a bearish territory may still turn bullish. At least that’s what experts think.
XRP Price Prediction: Ten Financial Entities are Actively Using XRP
The recent debacle regarding the price of XRP comes after reports came to light that Marjan Delattine, Ripple executive confirmed that approximately ten financial entities had entered into partnerships with Ripple. The goal is to use XRP via Ripple’s xRapid liquidity solution designed to tackle cross-border payments.
While the news of ten financial institutions using the XRP token is not impressive compared to the 200+ financial entities partnered with RippleNet. Alsop using xCurrent to facilitate their cross-border transactions, the move is certainly a step for the Blockchain offering. It appears Ripple is moving in the right direction. Although, whether this development will positively impact the price of XRP remains to be seen. Moreover, Delattine added that because ten partners using XRP has caused the volume of XRP to steadily increase every day.
XRP Price Prediction: The Prospect For The Price of XRP Remain Bullish
Despite the fact that we remain bullish about the prospects of the price of XRP, it is only after prices have rallied past the essential resistance levels that anything can happen. One of these resistance areas is $0.34. The level caps of the XRP bulls is forcing prices to consolidate near $0.4 range with support positions at $0.30.
Nevertheless, it is more likely that this level is going to hold, hence, preventing liquidation near $0.25 as the price of XRP retest September 2018 main support positions. The longer the consolidation, the stronger the price breakout will be. Depending on the direction it takes, any surge above the $0.34 or $0.40 must be high transaction volumes that will exceed the $79 million attained on April 2.
XRP Price Prediction: Sellers Have The Upper Hand on The Short-term Regarding The Price of XRP
Looking for at the recent price movement from the chart highlighting the XRP/USD pair, we can see that sellers have the upper hand. The reason is that buyers haven’t comprehensively reversed losses recorded on April 24 to 25. As highlighted in the last XRP/USD pair trade plan, it is safe to say that only after the price of XRP has edged past $0.32 or April 24 highs recording above average volumes that exceed May 2 average of $20 million and $79 million from April 2, that is when buyers will be back. Buyers will now be able to begin triggering another wave of bullish momentum aiming towards $0.40.
The price of XRP remains bullish in the long and medium-term.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.