- Is Ripple’s XRP on the Verge of a Bigger Drop in Price?
- XRP Price Will Drop to $0.24, Analyst Says
As is always the case when it comes to digital currencies, BTC has once again determined the state of the market movement. Yesterday, the price of BTC dropped. This drop suffered by Bitcoin inevitably pulled down the rest of the digital currency market. Among the digital assets that dropped is Ripple’s XRP. This recent pull down by BTC took a large percentage of XRP’s value. For the majority of crypto commentators and trading analysts, such market movement by BTC wasn’t a surprise. This is because the decline was predicted before it happened. However, there is also another analyst on the opposite side of the fence who have expressed different opinions on the matter.
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $0.262
According to one crypto analyst called the TradingAlchemist, any collapse in the price of Ripple’s XRP will get to the $0.265 level. The commentator also notes that before the price movement will occur, there will be a possibility of a slight price increase for XRP into the support region. This prediction proved true because, since the November 8 forecast publication, XRP’s price has been moving along those lines to be precise.
XRP Price Will Drop to $0.24, Analyst Says
Another digital currency analyst nicknamed CryptoMobster is of the view that the price of Ripple’s XRP will continue to move in the drop zone. The coin will drop further to reach the $0.24 price position. XRP, which was believed to be on a recovery part after a difficult year, appears to still be on the decline. Even the recent Swell Conference didn’t the situation with Ripple. The coin didn’t regain the momentum that made experts believe it was on a recovery part. Because XRP didn’t change direction to the good side, the coin has been free falling. Hence, it is not out of line to predict that it will suffer further declines.
Another popular analyst classic87 has given a different angle on the matter. Going by his research on the coin and plots from the past years via the Fibonacci channel, the analyst believes that XRP won’t record any form of explosive growth shortly. According to classic87, XRP will reach the Moon in the medium- and long-term. As is always the case, the opinions of analysts are always divisive. While some predict a price fall, others expect a rise in price. But for XRP, the situation doesn’t look good. For now, Ripple’s managers are working hard to keep the coin afloat.