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📈 Price Predictions
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BNB/USD Price Prediction — The Price Plummeted Below $20: Is That the Bottom or Not?


BNB/USD Price Prediction — The Price Plummeted Below $20: Is That the Bottom or Not?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

After rapid growth, a deep correction should always happen - the rule all traders should know and follow on the crypto market. In this case, BNB is such a coin.  

The hacking of the world's largest cryptocurrency exchange, Binance, provoked not only a barrage of discontent among the community but also led to a fall in the value of its platform coin - Binance Coin.

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As a result of hacker attacks on the trading platform, more than 7,000 BTC worth almost $41 million were stolen. The main digital asset of the BNB platform began to fall in price almost immediately after the Binance administration posted a message confirming the fact of the attack and theft of users' funds.

The market capitalization of cryptocurrency slipped to $2.7 billion; as a result, BNB decreased to 8th place in the ranking of the top digital assets. It is worth noting that in January the coin was trading at the level of $6, and by the end of April, the token soared to $26 (+330%).

BNB charts by CoinMarketCap

Since the beginning of 2019, the BNB coin has shown steady growth, reaching a maximum in April. The main drivers of asset value growth were the launch of the Binance Chain exchange network and the transition of many projects to this blockchain.

Now, let’s analyze the coin from a technical perspective.

The long-awaited BNB correction has finally started. The investment attractiveness of Binance Coin has grown so much lately that it has changed the natural flow of events, maximally delaying the beginning of the necessary rollback.

 BNB/USD chart by TradingView

Most likely this is only the first stage of the fall, as the price should at least go down to the accumulation zone at $15-17 to fully update the highs. That is the possible long-term scenario.

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On the other hand, BNB looks promising in short time frames. According to the chart, bears could not push the price below $18.30, which is followed by a bounce back to $19 and above.

BNB/USD chart by TradingView

The MACD indicator is bullish, so the coin has all chances to reach the $20 mark again in the nearest days.

The Binance Coin is trading at $19.30 at the time of the writing.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?


Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

The recent months have been nothing but disappointment for XRP traders, especially long-term hodlers. While Bitcoin and other altcoins have made a glorious path to new heights, XRP managed to crawl to $0.45 level and got back. Recently, it has even fell below $0.30 - a bad sign for traders. So, what to expect from XRP price next? Let’s check out Twitter users’ XRP price forecasts and their opinions. 

When innovations are hopeless

A lot of traders have been waiting for new technological advanced introduced by Ripple labs - it would make XRP price people thought. However, surprisingly, XRP did not grow - it went the opposite direction. This is what makes Twitter user say ‘RIP Ripple’.

Take a look at their predictions and moods:

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Dreamers stay dreamers

However, some users continue claiming that Ripple is able of reaching new heights. Here’s what some of them think:

A more possible scenario:

But what if Ripple is NOT supposed to be expensive? Take a look at this opinion:

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Indeed, XRP seems to stand aside from the scope of all other altcoins. It simply doesn’t follow the path of Bitcoin or any other digital currency. Market uptrend? Ripple hardly reacts. Technological advanced? XRP market does not depend on it either. Thus, making predictions often proves to be useless. 

Hold or buy more

Since no one knows for sure what will happen with Ripple (XRP) price, you can continue holding it and buy some XRP while the cost is tasty.

Moreover, XRP can dump a little bit more:

Thus, buying at $0.24 would be even a better idea. With the major downtrend on the crypto market, this might be possible.

Conclusion

Ripple’s XRP is too far from $0.50. Moreover, it might even drop below $0.30 again. That means you should either hold XRP for a few months (or years) more, or speculate on shorts – the second option is better for experienced traders.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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