XRP is one of the big three largest cryptocurrencies per market capitalization and popularity. Over the years, XRP has gained traction across the world but it has been unable to achieve its ultimate goal. The XRP news about the bearish XRP price prediction 2019 is unsettling because Ripple and XRP have been sealing new partnerships and recording new wins. So, why is the price of XRP falling? Is XRP dead? How long will this bear market continue and when will XRP bounce back?
XRP Price Prediction 2019 – XRP News – XRP Technical analysis – XRP Down By 50% Against BTC
Ever since the beginning of the year, Bitcoin (BTC) has been recording significant gains against the USD. While the gains have accumulated in a progressive way rather than rapidly, it is clear evidence that the cryptocurrency winter is over and the bulls are gaining ground on the market. The Bitcoin price prediction 2019 is extremely bullish. In fact, the price of Bitcoin is up by double is recent bottom around $3150. As Bitcoin stands tall above $6000, many altcoins have stalled and the total dominance Bitcoin has in the market has increased significantly.
While other altcoins have not moved in line with Bitcoin, XRP is performing worse than most. Over a 30-day period, the price of XRP is down against the price of USD by 15%. Against Bitcoin, that figure is even lower. Between January and now, XRP is down by 50% against the price of BTC. While it is still ranked as the third largest cryptocurrency per market capitalization, some people are starting to wonder if it deserves to be in the top three list.
In the XRP price analysis from our previous XRP news, we talked about how the price of XRP risked falling below the $0.30 support again. Well, it did lose this support according to the XRP price analysis on CryptoPotato. Right now, there are strong resistance levels at $0.31 and $0.32. If the price of XRP is able to move above these resistances, the next resistances will be at $0.336, $0.3507, $0.3615, and $0.3708 respectively. However, breaking these resistances isn’t going to be easy at all. Right now, there are support levels at $0.29 and $0.2811. If the price of XRP is to fall below this support, it would find another support at $0.2650. So you see, the question; is XRP dead is a valid one.
XRP News – Is XRP Dead? XRP Price Prediction 2019 – XRP Current Price – Why Is XRP Falling?
Why is XRP falling? Is XRP dead? The truth is that getting direct answers to these questions is difficult. There have been a lot of speculation regarding the current price of XRP. Some have suggested that Ripple, the company behind the token, is manipulating the price of XRP for the benefit of institutional investors. Others have said that the poor performance of the XRP token is as a direct result of the announcement about JPM Coin. While others have said that the price of XRP is simply preparing for a bull market but needs to find a bottom first.
XRP (XRP) Price Today – XRP / USD
Whatever the reason is, things need to change fast before the support at $0.30 is permanently lost and the XRP price prediction 2019 is affected. At the time of writing, the price of XRP was below the $0.30 support and heading for the support at $0.29.
What do you think about the XRP price prediction 2019 in our XRP news today? Why is the price of XRP falling against the USD and against the price of Bitcoin? Will XRP recover or is XRP dead? Share your thoughts in the comment section.