XRP Price Looks Ready to Move to $0.27, Says Crypto Trader

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Fri, 03/06/2020 - 16:20
Alex Dovbnya

Crypto trader Michaël van de Poppe predicts that the XRP price could possibly surge back to the $0.27 level

Cover image via www.shutterstock.com
Contents

According to cryptocurrency trader Michaël van de Poppe, XRP is on the brink of another significant move that could push its price to $0.27. 

image by @CryptoMichNL

At press time, the third biggest cryptocurrency is sitting at $0.24 after the bulls managed to pull off a minor revival. 

Related
XRP Price Expected to Go Above $0.40 While Its Liquidity Rises

A bump in the road

XRP started 2020 on a high note after being absolutely clobbered in Q4 along with the rest of the cryptocurrency market.

On Feb. 12, it once again surpassed the psychologically important $0.30 price level that it has been struggling to reclaim since November 2019. A few days before that, van de Poppe predicted that XRP could have ended its two-year downtrend and floated the possibility of XRP reaching $0.60.

However, after peaking at roughly $0.34, the token took a nosedive. XRP is currently down 30 percent from the above-mentioned yearly high. For comparison, Bitcoin investors who bought the 2020 top have lost only 13 percent at current prices.        

image by tradingview.com

Related
XRP/USD Pair Added to Binance.US App as XRP’s Liquidity Increases

XRP keeps lagging behind   

Considering that the adoption of the XRP token steadfastly continues to grow with a bevy of new Ripple's partnerships, its sluggish price action remains a mystery. It was one of the worst-performing coins in 2019 when BTC pumped by more than 95 percent. 

As reported by U.Today, some critics blame Ripple for suppressing the price of the token with its sales. However, the company's CEO Brad Garlinghouse vehemently denies such accusations.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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