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XRP Ripple Price Prediction [Updated]: Bearish Trend Sends Coin below $0.30

  • Jack Thomas
    🤷 Opinions

    A bearish turn in the cryptocurrency markets has seen the price of XRP fall below a key support of $0.30


XRP Ripple Price Prediction [Updated]: Bearish Trend Sends Coin below $0.30
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The week has begun on a red note for the majority of the cryptocurrency market as coins across the board are reporting losses. There is a bearish turn that has left very few coins immune, including XRP which has fallen away from its upward prediction.


Ripple’s token has fallen by over five percent in the last 24 hours, which in comparison to some of the other top 20 coins is not too significant. The likes of Tron, Stellar and IOTA have all lost closer to 10 percent of their recent gains.

What is key to note however is that the XRP token has dropped below its resistance of $0.30 trading at $0.29 currently. However, XRP is still the second biggest coin by market cap, besting Ethereum by almost $1 billion in terms of market cap.

XRP’s fall has seen it drop from $0.318 to its current level which means it to dropped through two floors including $0.31 and $0.30.

Price analytics

XRP recently faced increased selling pressure, resulting in the losses that forced it below $0.31. The XRP/USD then broke the $0.3070 support and the 100 hourly simple moving average.

Sellers picked up their game and then pushed the price below the $0.3050 and $0.3020 supports as well. A new low was formed near $0.3000 but that was also soon lost as it fell into the $0.29 range.

At the moment, the price is gaining bearish momentum in $0.29 range but this is consistent with the entire cryptocurrency market losing pace.

The next major support would probably be near the $0.2920 level, where buyers are likely to appear.

Reasons for the drop?

While there is no real reason that is tied to the coin for Ripple to be dropping, it should be noted that the entire market is under pressure in terms of investors as there has been news in the ETF arena.

Many feel that ETFs will be a huge boost for Bitcoin and the rest of the market; however, they have been scuppered in the past by the SEC. Now, there has also been news of ETF applications being withdrawn, including the positive looking application from Van Eck.

Many investors would have been holding their position in anticipation of an ETF, which now looks more and more unlikely in the near future, causing a general sell off. This feeling pressure is affecting the entire market, driving coins, like XRP, below support levels.

Cover image via u.today
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Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology

  • Darryn Pollock
    🤷 Opinions

    Blockchain adoption by billion dollar companies is probably a lot further along than expected as Forbes has revealed


Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology
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Forbes has recently released a list of 50 companies utilizing blockchain technology that are valued at over a billion dollars, these companies include the likes of Amazon, Microsoft, IBM, as well as less technical ones such as BP and Walmart.

What is surprising about the list is just how broad the scope of interest is when it comes to blockchain by these massive global companies. The adoption of blockchain, over the last 10 years, has been relatively slow, up until now.


But, in 2019, it seems that the future of technology has been laid out and to get a competitive edge these companies realise that there is a lot that can be done with blockchain and that they need to get their foot in the door.

Heavy hitters

While the Forbes list paints a grand picture of blockchain adoption, it also shows just how far along in the process some of these companies are. For companies to have made it onto the list, they have to have been using blockchain in some sort of effective and tangible way.

There are some, like insurance giant MetLife, which already has a working blockchain, and product, that has been going since 2014. Back then, the adoption of blockchain by major companies was not even heard of – it was more about the starting boom of Bitcoin.

But blockchain is the new leader in the space, taking over the batton from cryptocurrencies which certainly helped raise the profile of the entire ecosystem. If it was not for the cryptocurrency boom, a lot of these major companies would never even have stumbled across the underlying technology.

A drive for blockchain

Now, with the cryptocurrency market right back down again, and a lot of the speculation having been cleared out, there has been a whole year of rather focusing in on blockchain building and its application, instead of making money off speculative tokens.

That change in mindset has really helped major corporations take on the technology and begin experimenting with its efficiency and disruptive powers. There is almost an arms race going on as the advantages the technology can give across a huge spectrum of enterprises, which are massive and very coveted.

A need for enterprise investment

There still remains a debate as to whether blockchain, and crypto, with its decentralised nature, is in need of these major corporations coming in to monopolise the space which was born out of defiance of banks.

However, it would be foolish to think that blockchain can reach its full potential without a drive from big companies with big budgets. Smaller startups and companies are able to bring innovation and excitement to the space, but the mass adoption will only come when the heavy hitters are involved.

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