XRP’s Current Bearish Momentum Presents a Great Buying Opportunity According to Analysts

The analyst noted that professional e-sports gamers will soon be able to receive XRP payments thanks to the partnership between Ripple and SBI. SBI Japan has been able to boost the use cases of the XRP token by penetrating the sports gaming industry.

This will most likely increase XRP’s transaction volume next year. Some other Ripple Partners, like Banco do Brasil and MoneyGram have also made expansion moves that will help boost the adoption of XRP in North Africa and Switzerland. The analyst concluded that the XRP token is expected to rise by around 30% to 40% next year. So, when the buy signal appears, start buying.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

  • XRP Was Bearish Throughout September but Analyst Says That October Might be a Good Time to Buy XRP
  • XRP is Currently Stuck in the $0.2300 to $2400 Range With a Strong Buying Signal on the Way

As the price of the XRP token fell over the last few weeks, the daily volume also dropped. However, some price analysts believe that the XRP token has what it takes to move higher making October the best time to buy the token. The analyst from Digital Market News said that the XRP token currently has a lot of powerful fundamentals that will promote a surge in price next year. The analyst made a list of some of the upcoming events that will lead to a surge in XRP transaction volume and eventually to a surge in price.

Ripple News Today – Will Strong Fundamentals Help the Price of XRP Next Year?

We are currently in the last quarter of the year 2020 and the XRP token has had a lot of mixed signals throughout the year. At its highest point this year, the token moved as high as $0.3200. Unfortunately, XRP has been stuck in the $0.23 to $0.24 range for the last few days.

The analyst said that a surge to the $0.26 level will come with a major buy signal. So, waiting until the XRP token gets to this level before you might be a good idea. Rise above the $0.26 level will pave the way for a rise above $0.28 and above.

For now, the XRP token is holding the support at the $0.20 level as it has for several weeks. At the time of writing, the price of the token was $0.233640. It is down by 3.84% against the USD and down by 0.33% against Bitcoin BTC. The trading volume over a 24 hour period was $1,852,385,827 and the market capitalization was $10,551,758,018. While the XRP price prediction at the beginning of 2020 was mainly bullish, the token has failed to make any significant recovery over the last 9 months.

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *