XRP Price Prediction: Is there Salvation from Dropping to $0.15?

📈 Price Predictions
XRP Price Prediction: Is there Salvation from Dropping to $0.15?

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.

Despite the fact that XRP and Ethereum (ETH) fiat pairs have been added to the Binance exchange, its rate has dropped by 1.54% since yesterday. The current decline also applies to the other top coins, which are located in the red.

Top 10 coins by Coinstats

Against Christmas, the total market cap has declined and now constitutes around $190 billion.

The cryptocurrency market capitalization

Below is the relevant data for XRP and how it's looking at press time:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,226,144,731

  • Price: $0.189895

  • Volume (24H): $1,223,193,996

  • Change (24h): -1.54%

XRP/USD: Can the Oversold be a Reason for an Upswing?

XRP is not an exemption from other coins as its rate continues to drop. However, the cryptocurrency has gained 1.77% since last week.

XRP/USD chart by TradingView

Looking at the 4H chart, there are obstacles for XRP to move down to its nearest support of $0.1840. The coin is staying within the descending channel, and the declining trading volume confirms an ongoing decline. What is more, there is no divergence on the relative strength index (RSI) indicator, which means that sellers are continuing to push down the rate.

XRP/USD chart by TradingView

As for the bigger picture, the situation is a bit more promising. The rate of the coin has rolled back to its November 2017 positions. While analyzing the chart, the Moving Average Convergence/Divergence (MACD) indicator has been located below the zero for a long time without any significant movements up or down.

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What is more, the RSI has almost reached the oversold area. Based on these facts, one could conclude about XRP possibly growing to $0.20 in the upcoming weeks. However, the rise should be accompanied by growth of the entire cryptocurrency market.

At press time, XRP is trading at $6,870.

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.