Ripple News Today – The entire cryptocurrency market recently took a hit with the price of Bitcoin struggling to hold the support at $10,000 after moving as high $13800 in a parabolic bull run. Altcoins fell as Bitcoin fell. In our previous XRP news, we noted that the price of the third largest cryptocurrency per market capitalization, XRP, had lost the support at $0.40. Yesterday, however, Bitcoin started to recover against the USD. As expected, the flagship cryptocurrency carried the entire market along but was surging at a higher pace than altcoins. Now, the XRP price analysis reveals that even if the price of XRP is currently trading in green, more work needs to be done if it is to break out of the bearish territory for good. Will XRP recover?
Ripple News Today – XRP News Today – XRP Price Prediction – XRP Prediction 2019 – XRP Needs To Record More Gains
According to the XRP technical analysis, XRP is currently in a range between $0.30 and the 23.6% Fib retracement level. This shows that there is a high chance that the sideways trend isn’t stopping anytime soon. Right now, even if XRP is one of the least correlated cryptocurrencies on the top twenty, it is important to note that the price action of the token is still strongly related especially on a downtrend. This is why when the price of Bitcoin started falling against the USD, XRP started falling as well even if it did not record significant gains when BTC surged as high as $13800. XRP’s independence from Bitcoin is a good and a bad thing. It means that XRP can experience movement irrespective of whether Bitcoin is stable or not. Still, XRP will not be among the top benefactors when the price of Bitcoin is rising.
Right now, it is important that the price is XRP moves above the $0.4 level and set sights on the $0.5 level. Only when the price of XRP is above $0.5 can we confirm an end of the bear market. While the price of XRP moved above the $0.40 level a few times during recovery, it was unable to hold this level and kept falling to the $0.39 level. The most visible trend for XRP at this time is a sideways trend. The crucial support is at $0.38 while the relative strength index is at the 46 level. This is below the average level of 50. So, even if the bulls are around, they aren’t in control of the market.
XRP Price Prediction 2019 – XRP Prediction 2019 – XRP News Today – Cryptocurrency Latest Update
At the time of writing, the price of XRP was 0.401392. Hopefully, it will be able to hold this level this time. This means that it is up by 2.09% against the USD and down by 8.42% against the price of BTC. The trading volume over a 24 hour period is $1,506,278,259 and the market capitalization is $17,085,887,380. Bitcoin is way ahead of XRP and it’s not clear when XRP will pick up the pace.
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