This weekend has been a bearish one for the cryptocurrency market as a whole. In the top 20, 18 cryptos are in the red zone. Bitcoin is one of them and has fallen below $11,500. The coin is presently trading at $11,396. All altcoins except two are also in the red. XRP has been on a downward slope and is still struggling to reach $0.5. the US stock market didn’t have a good Friday as well.
XRP (XRP) Price Today – XRP / USD
Bitcoin is Still Bullish Despite Slow Weekend
On the daily trade, BTC has lost about 2.05%. however, the weekly trade has been quite stable. The coin is presently down by 0.10% weekly. The general market outlook for bitcoin is bullish.
Some institutional leaders wonder how bitcoin maintains the same volume of payments with MasterCard or Visa since it isn’t used for payment so much. The cryptocurrency is seen as a speculative asset, a lot like gold.
XRP Price Prediction: XRP and Ether are In The Red Zone
Ethereum is still the second largest crypto by market cap of $28 billion. XRP, on the other hand, is third with a market cap of $14 billion. Ethereum lost 1.68% in the last 24 hours. At press time, it is trading at $270. In the last week, it lost about 7.32%.
XRP has also fallen into the red zone and lost 3.68% of its value in the last 24 hours. For the week, the token has lost 14.92%. at press time, XRP is trading at $0,335160.
Chainlink and Monero Are The Winners For The Day
In the top 20, only two coins are in the green zone. Chainlink and Monero. Link is up by about 2.81% while Monero is up by 0.51%. another coin that could have been in the winners list is Cardano which started on a good note but lost 4.06% along the line.
The entire crypto market’s market cap is $311 billion, and the total trading volume is $64 billion. This means that the market cap is down by 4.5% since the previous week.
Analysts worry that altcoin season is not coming soon. Others worry about Facebook’s Libra project, Mihai Alisie from Ethereum’s fame says the social network giant hopes to outwit regulators to bring a cryptocurrency which would not be decentralized. It may also pose a security risk for the users.
The market entered the red zone this weekend, but it is nothing to worry about. Even though there have been some green weekends in the past months, weekends are often bearish in the crypto space. The market should pick up on Monday.
XRP Price Prediction: Will XRP Recover?
Analysts worry about XRP’s downtrend as it struggles to go above the $0.4 level. While some believe that this may be a huge buy signal for investors, others believe it may take a while for the token to recover. The parent company, Ripple, has partnered with several institutions in a bid to increase the adoption of its native token. The results have not manifested yet but should in the near future.
Before investing in the token or any other one, observe the market and follow the trends. It may be beneficial in the long run.