XRP Might Have Paused the Recovery but the Rally Might Resume. At the time of writing, the price of XRP was $0.294908. This means that it is up by 1.63% against the USD and down by 0.24% against Bitcoin BTC.
The trading volume over a 24 hour period was $1,889,287,944 and the market capitalization was $13,230,370,789. The recovery may have paused but there is still a chance that the bulls will come back into the market near-term.
With the fractal on the price charts, there is no telling how high the XRP token will rise. In 2017, the XRP token surged by more than 2300% against the Bitcoin BTC. This was when XRP moved as high as $3.84, its all-time high.
Not every analyst thinks the fractal will lead to the same result as 2017. It might have the opposite effect. For one thing, Bitcoin is taking a different path and there are variations on the charts that support this.
There is no way to determine what the XRP price action will be long-term. On one hand, the XRP token might reach a new all-time high against Bitcoin BTC. On the other hand, the price of XRP against the BTC will depend on the price of Bitcoin. If Bitcoin is also surging, XRP might not gather enough momentum to outperform it.
Ripple XRP Price Prediction 2020
Bitcoin, Ethereum, and other tokens have had a good run just like XRP. At the time of writing, the price of Bitcoin BTC was $11,909.20. It is up by 2.22% against the USD with a trading volume of $25,196,695,204 and a market capitalization of $219,804,306,441. Ethereum, on the other hand, is trading at $395.27. It is up by 1.56% against the USD but down by 0.60% against Bitcoin BTC. The trading volume over a 24 hour period is $11,231,882,052 and the market capitalization is $44,318,182,605.
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.
- Analysts Say XRP has Started Recovering Short-term and Decline Below the $0.3000 Level is Simply temporary
- Bitcoin and other Cryptocurrencies will Need to Take a Stronger Stance Near-term to Help XRP
- XRP’s Long-term Price Trend Remains Unpredictable
Over the last 30 days, things have been good for XRP. Even if the token is currently not at its best, the performance over this period has been impressive. Within a single week, the token moved up by more than 45% against the USD. For the first time in a long time, the token outperformed Bitcoin and other top cryptocurrencies on CoinMarketCap.
Currently, the technical charts show that fractal has appeared on the line. This fractal is similar to what appeared before the 2017 crypto bull run. This may lead to a parabolic bull run for the XRP token.