Will XRP Recover? Ripple Takes A Tumble But Brighter Days Are Ahead

ripple xrp price analysis

Everyone thought the dark days were over for Ripple XRP when it held steady after a period of the price swings it had. It remained steady at $0.40 and there was a sigh of relief for traders. Unfortunately, Ripple slid further below the $0.40 mark to $0.31. The price of Ripple XRP has gradually been going down against our previous Ripple price prediction.

Ripple News Today – XRP News Today – XRP Price Prediction 2019 – XRP Prediction 2019 – XRP’s Downtrend Continues

The story of Ripple’s present low state has been one of constant struggle as Ripple didn’t go down without a fight. After losing 21% in the last week and falling way below the previous $0.40 it occupied, Ripple XRP was able to climb back up to above the resistance level of $0.35. It held steady at $0.35 before succumbing to bearish pressure and falling below the resistance level. Ripple XRP price currently stands at $0.31, which is a far cry from its former position. XRP price analysis carried out by analysts shows that it may have a strong bearish opposition in rising above the resistance level of $0.35.

Should XRP rise and overcome the resistance level at $0.35, experts believe that its bearish run would not be over until it reaches the $0.40 which it earlier occupied. The $0.40 mark seems to be a critical level that has stood as a barrier for over a year and analysts believe that surmounting the $0.40 mark will not be easy.

XRP latest update indicates that some of Ripple’s woes may be as a result of Jerome Powell’s remarks on cryptocurrency and Ripple XRP in particular. Jerome Powell’s scathing remarks may have made traders lose confidence in XRP and reduced XRP’s chances of climbing up.it would seem that some cryptocurrencies were influenced negatively by the comments from financial institutions and bodies.

Ripple News Today – XRP News Today – XRP Latest Update – XRP Price Prediction 2019 – Light In A Dark Tunnel

Despite Ripple XRP’s troubles, it remains the third cryptocurrency in the market, trailing Bitcoin and Ethereum. XRP present loss in price value makes its trading volume over $1.5 billion. Its total capitalization stands at $14billion and the XRP RSI (Relative Strength Index) is below 40. XRP price analysis shows that XRP support levels are $0.2950 and $0.2900 while the resistance levels are $0.3080 and $0.3200. Analysts and experts agree that an XRP price forecast of $0.32 by the end of the year was feasible for the third cryptocurrency to attain.

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.292
1.19%

Ripple’s principles of a decentralized financial market having fast transaction times and cheap costs have made it an excellent choice for banks and financial institutions. Unfortunately, these glowing principles have not been able to translate to higher price value as Ripple XRP has struggled to rise above the $1.0 mark. Though XRP seems to be in a slump, XRP price prediction shows that XRP is still a good investment. History shows that Ripple XRP outperformed the other cryptocurrencies in 2017 and 2018.

Though it isn’t doing so well presently, XRP latest update indicates that the future may still be bright for Ripple XRP. XRP price prediction made by market researchers sees the coin bouncing back and rising above the present hurdle.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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