XRP Price Fighting for $0.40 Against the Trading Volume Drop

  • Denys Serhiichuk
    📈 Price Predictions

    ⚡ 📉Ripple has decreased by 5% over the previous day. Our price prediction explains what it means for the long and short terms scenarios🔮 👉


XRP Price Fighting for $0.40 Against the Trading Volume Drop

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.

If some coins are trying to get out from correction as soon as possible, Ripple is falling faster than other top coins, Bitcoin and Ethereum. Its rate has dropped by 5% over the last day.

Even the news background did not help Ripple to withstand the price decline. The vice-president of the largest financial company American Express, which provides payment services in different parts of the world, confirmed the intention to use the Ripple xCurrent solution to increase the efficiency of their work.

👉MUST READ

Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

Ripple Price Prediction 2019: XRP Might Reach $1.20 by the End of 2019

What is more, SBI Ripple Asia, a subsidiary of Japanese banking giant SBI, announced that it is currently working on accepting XRP as a form of payment in retail stores.

XRP/USD 1-hour chart

XRP is following our earlier scenario and keeps falling due to the negative sentiments of participants on the entire market.

Probably, a decline to $0.37 is supposed to happen, after which, perhaps, we will see some changes in a positive way.

It is worth noting that there are signs (trading volume drop) of the formation of a descending channel, due to which there is a possibility that the sluggish market conditions may persist for a long time.

XRP/USD daily chart

On the daily chart, Ripple is looking more bullish; if the support at $0.38 is not broken, the coin remains dominated by buyers. The MACD indicator backs up such tendencies, locating in the ascending channel. Although the trading volumes have declined over the past days, their amount still prevails over the marks of 2018.

👉MUST READ

Ripple Mining Explained: Why It Can’t be Done

Ripple Mining Explained: Why It Can’t be Done

Overall, in the long-term projection, Ripple can achieve $0.50 until the end of summer.

The price of XRP is trading at $0.3981 at the time of writing.

Cover image via www.123rf.com
Join our Telegram channel to get news even faster!

About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

👓 Recommended articles