Ripple (XRP) Likely To Witness An Unexpected Upsurge Soon, How High Will XRP Go?

XRP Price Analysis – In the past month, Ripple (XRP) initially traded below the baseline at the price of $0.29064 at 19:30 UTC on 16th July. The coin made an increase of 16.09% on 20th July at 21:30 UTC and traded at $0.3397. XRP’s value then dipped by 14.46% and reversed to fluctuate below the baseline with the value of $0.29064 on August 9th at 16:00 UTC. XRP Price Analysis observed a slight increase in the Ripple’s token on August 11th at 18:00 UTC. XRP recorded a 4.99% increase and traded at $0.30515. Yesterday, at 07:00 UTC the value of the token plunged further by 17.73%, trading at the value of $0.25202. Currently, the XRP price has increased by 4.78%.

XRP News Today – Ripple News Today – XRP Market Update- XRP is Likely to Drop a Bit Before A Price Surge

On August 16th, 2019 at 01:46 UTC, Ripple (XRP) traded at $0.26469. The current market cap and 24-hour volume of the token are 11,356,034,077 USD and 1,273,385,026 USD. Its total supply is 99,991,376,954 XRP while its circulating supply is 42,890,708,341 XRP. Also, the return on investment of coin is 4407.56%. However, it appears that the token might record a little dip today.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.242
-2.69%

Though not solid, XRP is exchanging the bearish zone. The support and resistance levels will help traders to manage the market situation. The support levels for XRP are at $0.257916, $0.250949, and $0.245787 while the resistance levels are at $0.282174, $0.275207, and $0.270045.

However, XRP’s bearish run paused at $0.2500 against the US Dollar yesterday. Though the token has made an increase, the trend is extremely bearish considering XRP price in the last few months. The coin which soared to $0.2669 opened at $0.2637 yesterday. However, it dipped to $0.25 before it bounced back with an increase of 6.38% to $0.2660.

Ripple (XRP) later corrected down and started a bullish trend line. The token has recorded two major price spikes near $0.2676 and $0.2682. At 04:34:29 UTC, the coin has corrected down to $0.2612.

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

XRP is lower than its 100 day SMA of $0.3703 with 29.46%. Besides, its long term, 100-day SMA is above its short term, 5-day SMA, which shows its bearish nature. The MACD, which is also in the bearish zone. Though the MACD chart is a bit volatile, it just had a bullish crossover. With an oversold momentum as shown by the RSI indicator, the coin is likely to see support at $ 0.2579 and resistance at $0.2751.

Though XRP recently recorded its 52-weeks low price in the last five days, the token is currently struggling to remain above $0.26. Expectations are high that the cryptocurrency may make a surprise recovery. Coil, a media platform that pays content creators in Ripple may contribute to XRP’s recovery. However, the question remains whether the investment will support huge returns.

Xpring, Ripple’s infrastructure development, and XRP adoption initiative gave $265 million in XRP to web monetization platform, Coil. Xpring announced the grant to Coil on August 15th. Coil is expected to use the funds to build an ecosystem of developers, creators, companies, and nonprofits that use XRP via the Web Monetization open standard.

Content creators can monetize their contents by making exclusive and public posts on the platform. The content is automatically enabled for streaming payments. Alternatively, they can add a simple tag to their websites to monetize them.

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.

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.