Ripple’s XRP has given in to selling pressures seen in the broader market on Monday. While the trigger for the bearish movement is unclear, Ripple‘s XRP may be correcting from recent gains. In the last seven days, the coin gained 3 percent in value. However, in the last one month, the crypto’s price declined a worrying 21.3 percent.
The coin had earlier breached a key support level, which can be found at $0.34. The crypto then continued to dip further. The virtual currency then found support at $0.33 to rise again, in an attempt to cut back its losses.
The 100 EMA line showed that the digital asset was in a downtrend at the time of writing. The MACD indicated that the coin was trading in the bearish zone. The token was exhibiting a significant trading range of $0.33-$0.34. As of 1845 GMT, the crypto had edged down 1.4 percent against the U.S. dollar to trade at around $0.34.
At the time of writing, the altcoin had inched 1.2 percent lower against BTC. Currently, one XRP is equivalent to around 0.000046 BTC.
Ripple’s XRP Price Prediction 2018
- According to Smartereum, experts believe the token 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 Coin News predicts that the crypto could climb to about $8-$10 by the end of this year. However, the Economy Forecast Agency has a more pessimistic view, and has forecast that the virtual currency’s price will fall by the end of the year on account of “technology partnerships not fulfilling promise”.
Ripple’s XRP Latest Updates
- Balance recently unveiled its Balance Custody, a secure offline storage and digital asset management solution. Traders can trade large volumes of Ripple’s XRP along with Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], among others, on Balance’s platform.
- Recently, research firm Satis Group forecast that the price of the crypto will crash. According to the firm’s report, the coin will crash another 97 percent in the next five years.
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