Ripple’s XRP Technical Analysis and Price Prediction 2018, 2020
In the midst of a declining cryptocurrency market, Ripple’s XRP is struggling to post gains. Though its market performance on Wednesday has not been as bad as most of its peers, the coin is still losing against the U.S. dollar. In the last seven days alone, the digital asset saw its value drop nearly 15 percent.
The crypto had initially found support at $0.256, after which it attempted post gains. However, broader gains were capped by intense selling pressures seen in the crypto market. Currently, the virtual currency is facing resistance at $0.261. The coin is exhibiting a brief consolidation phase at the moment.
The MACD, at the time of writing, showed that the altcoin was trading with bearish momentum. The 100 EMA line indicated that the coin was in a downtrend. The virtual asset was exhibiting a significant trading range of $0.253-$0.265. As of 1303 GMT, the digital coin had slipped 1.1 percent against the U.S. dollar to trade at $0.261.
At the time of writing, the token had inched 0.8 percent lower against BTC. At present, one XRP is equivalent to around 0.000042 BTC.
Ripple’s XRP Price Prediction 2018, 2020
- Ripple Coin News predicts that the crypto could climb to about $8-$10 by the end of this year. However, the Economy Forecast Agency has forecast that the coin’s price will fall by the end of the year on account of “technology partnerships not fulfilling promise”.
- According to Smartereum, experts believe the digital asset could rise to as high as $200-$300 in ten years. Megacryptoprice forecasts that the coin will hit $6.14 by the end of next year.
Ripple’s XRP Latest Updates
- XRParrot is reportedly offering fast and secure Ripple’s XRP to Euro conversion. This new website will help users to buy and sell the token for Euro easily. In the future, more functions will be added to support other fiat currencies.
- Ripple’s XRP can save money and time for banks and financial institutions, according to a Royal Bank of Canada report. Ripple, with or without its digital asset, can save banks an average of around 46 percent per payment. The bank believes that blockchain addresses the pain points of the remittance industry by reducing cost, intermediaries, and by increasing transparency.
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