XRP Plunges Below The 35 Cents Support Mark as It Fails to Break Over The 40 Cents Mark

The bears seem to be in charge of the market at the moment. All the top digital currencies in the market are deep in the red at the press time. The crypto market is presently in a correction phase and some digital currencies have lost more than 20 percent of their values over the past twenty-four hours. The largest digital currency in the world by market cap – Bitcoin (BTC) – is down by more than 13 percent over the past day. Bitcoin (BTC) was trading close to the $13 level yesterday. However, the massive plunge has brought the price of Bitcoin (BTC) close to the $11k level.

XRP (XRP) – the third largest digital currency by market cap – is also paying the price after failing to break over the 40 cents resistance level. The price of XRP is deep in the red and it looks set to hit the 30 cents support level.

XRP Price Analysis – Will the 33 Cents Mark Prevent Further Losses? – XRP Price Prediction 2019

The price of XRP is down by more than 15 percent over the past twenty-four hours. XRP was trading slightly below the 40 cents mark yesterday. Many analysts were expecting the price of XRP to break over that level before the bears showed up. The bears pushed XRP price below the 38 and 37 cents support levels. XRP continued its downward plunge and broke below the 36 cents supported and settled below the 100-hourly simple moving average.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.293
0.898%

There was also a plunge below the 35 cents support and XRP USD price tested a low of $0.3345. At the time of writing, the XRP USD price is consolidating losses around the $0.3345 level. The digital currency even broke below the 23.6 Fibonacci retracement level of the previous swing from the high of $0.3968 to the low of $0.3345. There was also a formation of a contracting triangle with resistance at the 34 cents mark on the hourly chart of XRP against the US dollar.

Will XRP Recover or Continue to Plunge? Cryptocurrency Market Update – XRP Price Prediction 2019

XRP doesn’t look poised for more gains at the moment. The digital currency is still plunging lower. XRP is still on its way down and it might test the 33 cents soon if it fails to hold gains over its present support level. At the time of writing, the support level of XRP is the 33 cents level. If XRP price falls below the 33 cents mark, the next stop would be the 30 cents mark, if the 32 cents level fails to prevent losses.

On the upside, the immediate hurdle of the coin is at the 34 cents level. A break over this level is needed for XRP to return to its previous position. At this pace, will XRP still the XRP price prediction 2019 of $1 before the end of this year? Many analysts and digital asset investors are positive about the future of XRP. Ripple has put in so much effort to get XRP to where it is today. A lot of digital asset investors believe in the potential of XRP and they have faith in the digital currency that it will amount to something huge in the near future.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.