XRP Is Unable To Rise Above The $0.40 Resistance Level, Is This The End Of The XRP Rally?

ripple xrp price analysis

XRP News Today – XRP, the third largest cryptocurrency per market capitalization is also one of the most popular cryptocurrencies in the space. Over the past few months, XRP has been able to earn its independence from Bitcoin. Even if the price of Bitcoin is strongly correlated to altcoins including Ethereum, the relationship between Bitcoin and XRP isn’t as strong as it used to be. In the beginning of the year, when the price of cryptocurrencies started rising against the USD, XRP didn’t rise at the same pace with Bitcoin. It remained within a poor range of $0.28 to $0.32 for days before it finally picked up per our previous cryptocurrency market update. The banker’s cryptocurrency was able to rise from the $0.32 level to the $0.46 level. However, it subsequently fell from this level and has been unable to retest it. In fact, XRP is finding difficulty staying above the $0.40 level.

XRP Price Prediction 2019 – Cryptocurrency Market Update – XRP Can’t Stay Above $0.40

This morning, the price of XRP managed to move above the $0.40 level but it was unable to maintain its stance above this level. It subsequently fell to the $0.39 level and has been trading in that range since then. Some XRP price analysts have suggested that this fall in the price of XRP may last longer than anyone anticipated. This is because even if the market started recovering again, XRP was unable to hold its ground above $0.40.

Some analysts have suggested that the price of XRP is not rising because of the recent negative news that hit the press about Ripple and XRP. You see a while ago, per our XRP news, the rumor in the cryptocurrency space was that one of the largest banks in Thailand, Siam Commercial Bank, was pleased with Ripple. A representative of the company allegedly gave Ripple a thumbs up stating that the introduction of Ripple into the cross-border remittance space is imminent. A few days ago, the company denied making such a comment. The cryptocurrency community is still easily influenced by the press. However, XRP is expected to shake off this effect soon.

XRP (XRP) Price Today – XRP / USD [ccpw id=”10545″]

If the price of XRP starts to move higher against the USD, it would face resistance at $0.4110. If it is able to rise above this resistance, it’s going to recover higher near-term. The bulls may be able to push the price of XRP above $0.42. If a more sustainable bull run starts, there is going to be a strong chance of XRP hitting $0.4700 before the end of the week. At this level, the resistance levels will be at $0.5000, $0.5200, $0.5681, and $0.600.

XRP News Today – XRP Current Price – Cryptocurrency News Today

At the time of writing, the price of XRP was $0.387209. This means that it is down by 3.22% against the USD and down by 1.11% against the price of BTC. The trading volume over a 24 hour period is $1,153,289,672 and the market capitalization is $16,355,301,933. The next few trading sessions are going to determine if XRP will retest the $0.40 level near-term.

What do you think about the cryptocurrency market update today? Is XRP dead or is it going to recover? Share your thoughts in the comment section below.

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.

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