XRP’s Price Begins To Gain In Recent Trading Cycles But How Long Will It Last?

Ripple News Today – XRP has had a quite dreadful year. It is one of the worst performing cryptocurrencies so far in 2019. The decline of XRP is in public view because XRP is one of the largest cryptocurrencies by market capitalization. Also, this decline has come despite extremely positive 2019 predictions for the performance of XRP. For much of 2019 Ripple price has hovered around $0.39 or thereabouts. However, of recent Ripple price began a recovery against the $0.39 level which is of course against the U.S. dollar.

Ripple News Today – XRP Price Prediction 2019 – XRP Latest Update XRP News – XRP Price Analysis

Recent trading saw the Ripple price even break the $0.40 level and reach as high as $0.41. The $0.41 area as expected was an area of much resistance for the Ripple price given its poor run of form. It did not therefore, last long in the $0.41 range. That notwithstanding, its ability to even reach that high is an encouragement to everyone concerned.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.338758
6.02%

Several market analysts, and other interested parties are currently tracking the Ripple price. A cursory glance at any such chart will show that at around $0.3920 the Ripple price is building up a fierce support line. This development is of course very good news, because as long as Ripple continues to trade above its base support line of $0.3900 it is very likely to climb above the $0.40 resistance margin as trading progresses. All this means that the Ripple price might dip a bit here and there, but sellers will most likely find offers at around $0.39.

Ripple News Today – The current upswing in Ripple price actually began when it tested the uncertain waters of the $0.3750 area. Although expected to immediately slump, the Ripple/USD combination went on to cross the $0.39 mark. The $0.39 area has been an area of resistance for the Ripple price. Moving into the $0.39 zone meant positive trading for the Ripple price.

The upswing in price continued until the Ripple price reached the $0.40 line. The Ripple price would eventually cross the $0.40 line and reach as high as $0.4108 to record a new high before it started its downswing.

The downswing saw it fall below the $0.40 price margin as well as the $0.3950 price margin. However, the price decline saw the $0.3860 price line act as a support line and effectively curb the downswing. The price swung back up and reached the $0.3920 line before eventually crossing it.

Ripple News Today – Breakdown Of Ripple Price Movement – XRP News Today – XRP Latest Update – XRP Prediction 2019

However, the $0.40 price line has continued to be a strong source of resistance for the Ripple price. This has seen it eventually move towards the $0.3920 price line in every trading cycle.

Right now the Ripple price depends on what happens as the market progresses. Ripple price could revisit the $0.3800 region again if losses continue. On the other hand it could break the $0.4000 resistance area and make gains at $0.4100.

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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