This article tackles the latest development in XRP prices from a technical and fundamental viewpoint. Despite Ripple’s low momentum, this XRP Price Prediction will show how XRP managed to gain more than 20% in the past 7 days. What’s going on with XRP?
For an extended period, Ripple’s cryptocurrency XRP was known to be the third-largest cryptocurrency by market capitalization. Enthusiasm around a lighting-fast crypto transfer along a company working on business development was a definite plus for Ripple company. This business advantage started to shrink with time, as many other projects picked up and made similar accomplishments. Some of them rolled new features, while others partnered with big tech companies. All this competition from other projects, along with the final SEC blow, made Ripple regress as a company, and XRP to fall back in prices. What’s happening with Ripple recently?
XRP Price Prediction – XRP shooting high
Did XRP settle?
In a previous article, we discussed how Ripple’s lawsuit will end up most probably by settling and paying a big fine. This plan did not happen yet, but is very expected soon. In fact, a similar scenario happened with EOS and the same resolution happened which ended up by settling. Removing the SEC palava, Ripple has no excuse not to get back on track. Ripple would then be able to compete with other projects in the crypto ring. Additionally, more partnerships with financial institutions would definitely bring Ripple back into the game.
Is XRP worth buying?
From a technical point of view, XRP shot more than 20% in the past 7 days. It was close to its lowest price and is now waking up from an extended bear. Unlike most other cryptocurrencies, XRP never reached its all-time high price of USD 3.3. This makes XRP worth buying, provided Ripple company keeps on progressing in its business operations. XRP’s current price sits around USD 0.56 and is out from a consolidation area. The current price is a critical one, as the price might retrace back down. On the other hand, the price might continue on its uptrend and reach higher price areas.
- Support level: USD 0.40
- Critical price: USD 0.60
The whole Crypto Market
In the past 7 days, most cryptocurrencies were seen consolidating alongside Bitcoin, which still has a market dominance of 60%. Despite this sideway crypto market, many altcoins like ADA, UNI and XRP managed to gain in prices. Here’s the most recent top 10 by market cap:
1- Bitcoin (BTC) : – 0.28 %
2- Ether (ETH) : – 4.59 %
3- Binance Coin (BNB): + 2.39 %
4- Tether (USDT) : 0 % (Surpassing Cardano)
5- Cardano (ADA) : + 11.37 %
6- Polkadot (DOT) : + 4.06 %
7- Ripple (XRP) : + 22.95 %
8- Uniswap (UNI) : + 16.21 %
9- Litecoin (LTC): – 6.64 %
10- Chainlink (LINK) : – 0.26 %
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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