XRP is currently in a consolidation phase but it is important to note that it isn’t the only token that is falling. At the time of writing, the price of the XRP token was $0.280430.
The bears were losing momentum by the token was still down by 2.03% against the USD and down by 1.48% against Bitcoin BTC. The trading volume over a 24 hour period is $1,803,276,072 and the market capitalization is $12,596,566,484.
Bitcoin BTC, on the other hand, was trading at $11,514.81. It is down by 0.59% against the USD with a trading volume of $25,377,166,880 and a market capitalization of $212,559,173,604. Ethereum ETH is currently the only token that is trading higher against the USD among the top three. It is trading at $395.01 up by 2.26% against the USD and up by 2.82% against Bitcoin BTC. The trading volume over a 24 hour period is $14,347,816,893 and the market capitalization is $44,305,564,666.
If XRP can successfully break the current downtrend, there is still a chance that the token will rise higher against the USD. Right now, the resistance levels are at $0.3000 and $0.3200. On the other hand, there are support levels at $0.2800 and $0.2700. One analyst said;
“XRP (USDT) update – breakout was a “False move”, 25 cents seems reasonable, lower range of high wave spinning top.”
In the next few days of trading, we will know if the XRP token will keep falling or move higher against the USD. If Bitcoin recovers higher, XRP might follow suit.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple XRP Price Declines, Risks Falling Below the $0.2500 Level Near-term
- XRP’s is Currently Trading in the $0.2600 to $0.2800 Range
- XRP Isn’t Falling in Isolation, Other Tokens are Falling Alongside XRP
Ripple News Today – Things have been hard for XRP over the last few days as the token declined steadily against the USD. It has been in the red zone for more than four days and there is a strong sign that the token might retest the $0.25 level near-term. One wrong move and the token will find itself dropping from the $0.2700 level support. Keep in mind that XRP was surging higher against the USD less than two weeks ago. It managed to move above the $0.3100 Level against the USD where it faced resistance and started to decline.
XRP Price Prediction – $0.2500 Might Not be Farfetched
While falling below the $0.3100 was bad for XRP, the most significant resistance for XRP was at $0.3000. The token has been sliding lower steadily since then and it will most likely keep falling if the bulls don’t gather momentum anytime soon.
While XRP is in the upper $0.2000 level at this time, it might move lower to the $0.2500 level and eventually break the support at $0.2000. This is another key support for the token.