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Ripple XRP Price Prediction: XRP Shows Strongest Bounce in Bad Crypto Week

  • Darryn Pollock
    🤷 Opinions

    In a week of mostly losses across the cryptocurrency market, XRP was one coin that showed some good fight back


Ripple XRP Price Prediction: XRP Shows Strongest Bounce in Bad Crypto Week
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After a long period of low volatility and movement for most of the cryptocurrency market, there was a notable dip that occured this week. Starting on Sunday, most of the top 20 coins saw a substantial fall, but throughout the week, there has been a bit of a bounce back for some.

The bounce back has been better for some than others, with XRP showing the most impressive bounce to try and get back to levels similar to those before the Sunday fall.


As it stands, today’s market sees more downturns, with only Binance Coin giving off some good gains in terms of a 24 hour change. The coin is up nearly seven percent while others in the top 20 are showing mostly small losses.

NEM is down 11 percent in a significant drop since yesterday, and XRP is also down over 24 hours by four percent, but is still showing good resistance over the week.

A week of red

Looking at Bitcoin, which is still the predominant coin in terms of directing the cryptocurrency market, when it started dipping on Jan. 27, most coins followed. Bitcoin went from a week high of $3,654 to falling to a low of $3,400 by Tuesday as it reached a place of resistance.

Bitcoin managed to rebound by $100 over the next two days, hitting $3,500 by Thursday, although there has been a steady decline in price again running down to the weekend. The price currently sits in the mid-$3,400 range.

For the rest of the coins, there was a pretty similar pattern across the top 20, but XRP showed a good rebound on Thursday as it peaked to higher than it was before the downturn in the market.

👉MUST READ Ripple Price Predicted to Move Significantly by Expert Trader Peter Brandt
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XRP shows potential

XRP started dropping on Sunday as well, as the coin went from $0.31 to a low of $0.28. Through the middle of the week there was very little fluctuation in price until a massive spike saw the XRP coin jump to $0.32, and then jump once again.

Ripple XRP Price Prediction: XRP Shows Strongest Bounce in Bad Crypto Week

Price prediction

While the markets seem to be dipping again into the weekend, there is nothing to suggest that another notable drop is on its way. In fact, there was some positive news relating to the Van Eck SolidX BTC ETF this week.

After withdrawing its application, CBOE has resubmitted it in the wake of the US government shutdown coming to an end.

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XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?

  • Jack Thomas
    🤷 Opinions

    XRP is seeing some good gains, but could it be because Forbes has listed it among other major billion dollar companies in blockchain?


XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?
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Contents

Ripple, and its XRP token, have always had a hard time being taken seriously by the Bitcoin maximalists and other ‘true’ crypto aficionados. The company has been focused on partnering with banks, which has been for a long time the scourge of the crypto market.

However, there has been a change in the sentiment around cryptocurrency and blockchain, with media houses like Forbes calling 2019 the year of enterprise blockchain, and one of rebuilding after the speculative boom and bust in 2017/2018.


Forbes has now produced a prestigious list of 50 enterprise business valued over $1 billion that are doing good things with blockchain and crypto, and Ripple is one of the few startups that are on the list. Ripple finds itself in the company of businesses like Microsoft, IBM, BP, Amazon and other multinational conglomerates.

A reputation boost?

So, while XRP and Ripple have been mostly viewed with suspicion within the cryptocurrency community, it could be that their appearance to the mainstream through the lense of Forbes is a lot better and brighter.

The blockchain list by Forbes is intended to inform about how much enterprise use of blockchain is actually going on from major companies, and some companies many would never have thought were involved in the technology.

There is no doubt that it is a boost for the technology underpinning cryptocurrency, but it would seem that even the XRP token is receiving a boost from this unearthing of institutionalised interest.

Price prediction?

This legitimizing boost has been reflected in XRP’s increase in value of over six percent, but looking ahead, it appears as though there is chance for a bigger boom.

This upwards move firmly established XRP’s support level around $0.32, so one analyst believes that it may continue surging towards $0.48 in the near-future.

Ryan W, a popular cryptocurrency analyst, spoke about this possibility in a recent tweet, noting that XRP does face resistance levels at $0.38, $0.44, and $0.50, but also explaining that he expects the crypto to garner enough upwards momentum to break above at least two of these resistance levels with a price target set at $0.48.

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