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Ripple’s XRP Becomes Top Performing Asset in Recent Crypto Rally

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The XRP market price is reawakening after months of stagnation, boosted by the return to wild daily gains.

Ripple’s XRP broke out of its usual range, adding more than 21% overnight on the back of the general rally. XRP became the best-performing asset in the top 10 of coins, rising to $0.38. The gains are still limited, as XRP remains one of the worst performers of 2019, lagging behind the gains of other assets.

Positive news also includes VISA’s purchase of Earthport, a company that has built a partnership with Ripple in the past:

 

However, partnerships with Ripple mean the usage of the payment system and XRP are still in the exploratory stage. A partnership is no guarantee of direct demand for XRP.

The current price rally generated predictions of XRP returning to prices above $0.50, and extending the gains quickly to new, much higher valuations.

But the biggest boost for XRP is the fact that it is now available to New York residents, as announced recently on the Coinbase blog. XRP may thus see new inflows of funds, as buyers flock into what looks like a promising, low-priced asset capable of growing significantly.

 

XRP is one of the most widely advertised assets on social media, and the current price rally may further increase the coin’s popularity. XRP shows significant activity on Binance, as well as a handful of innovative exchanges using transaction mining.

XRP skeptics, on the other hand, see BTC as rallying harder. The crypto community is skeptical for XRP for not running a decentralized blockchain, and for allowing the potential reversibility of transactions.

Along with XRP, several other forgotten low-priced assets rallied harder than usual. IOTA (MIOTA) also rose by more than 21% overnight to $0.37, as the asset hopes to regain its influence. The Stellar (XRP) asset, which is viewed as the open source version of Ripple’s ecosystem, recovered to $0.10, with expectations for a more significant rally.

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Ripple’ XRP Price Approaches New Bottom: Traders Predict $0.2 XRP Price In A Week

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XRP is to touch $0,2 level, according to traders’ forecasts. However, some TradingView users have a different opinion. What to believe? Read the recent XRP price predictions

Ripple is shocking the crypto community: the $0.3 support seems to have failed, but it’s not the bottom yet! The current XRP price of $0.26 seems to be a weak support zone, and the crypto community is embarrassed. What to do with XRP? Buy or wait for it to get even lower? Let’s read Ripple’s XRP price predictions from tradingview and check out what people think about this crypto.

Turbulence ahead!

XRP will touch the level below $0.25

Ripple (XRP) price chart by carltonzone

The movements on XRP the past couple of days have taken a lot of us by surprise, and it might get ugly in the short-run. 

We found a critical pivot point on the new Big Light Red just days ago when we experienced the massive red candle of doom. After the extended period of boring side-banding, a few interesting hints appeared.

The current trajectory of the blue Fib indicates that we have broken free from its gravitational pull. The downward momentum has us possibly looking to touch down on the Light Blue 3.618 below. We could float around a bit, and touch that line just below $0.25. There are no pivot points that jump out at me that would indicate a pivot point changing the direction of this trend. Therefore, the 4.216 could be the next possible stop. 

There are many XRP price predictions around $0.22, and this would definitely coincide with the landing point along this current trajectory IF we blast through the remaining Light Blue fibs indicated on the chart. When we are on the underneath side of the circles on the right, in quadrant 2 in a clockwise direction, the tendency is to continue in a downward direction. The past is not always indicative of future movements, but when it’s all we have to hang our hats on, it’s the safest way to assume the direction.👉MUST READ

1 more month of accumulation

Accumulation continues

Ripple (XRP) price chart by kyer

Here’s a very interesting XRP price prediction that contradicts what’s been said about XRP in the previous day. 

The wedge we’re looking at spans over 400 days starting on August 12th, 2018 and should breakout before September 28th, 2019. This month, August, we should just see XRP accumulating between $0.30-0.32. We can only hope it gets back to $0.30 level The Monthly chart confirms this. 

September is the month our lives will change. At this point, $XRP has accumulated enough to test out of the wedge. If it doesn’t have enough strength, October will be the month this coin goes to the moon. 

You can see in May-July it tried to breakout, but it wasn’t strong enough and the whales pushed the price back down. 

According to kyer, the next move up will break $XRP out of this wedge, just like how it did at the end of 2017. All the stars are aligning for $XRP to move up, the price has been suppressed long enough. Alt season should come around Sept-October, the same time that Bitcoin/Ethereum is moving up too.👉MUST READ

Downtrend will continue

Wait for alt season – XRP will soar

Ripple (XRP) price chart by tradinginthezone2019

As expected, eventually the support was eaten up and it collapsed out of the range it’s been in for some time now, as some good traders said, it wasn’t unlike BTC at 6k in 2018. 

This is where things get interesting, XRP is now reacting to the levels set back in 2017 before the euphoria pump. Most likely, it will rally back to local resistance and then collapse further. May open a short if it gets even close to the 30 marks as this will not be reclaimed for at least a few months (unless we get alt season).

Final words

Even the current situation is not a time to panic sell. If you’re not a swing trader, this should be of no concern. The best advice is to look at the BIG picture and sit steady in the boat. For those of us looking for long-term gains, we can’t be concerned with this part of the market cycle. There will be ups and downs. But in the long run, the nastier it gets, the better. You make the BIGGEST gains on the long-shots. Remember, we are in the EARLY stages of the cryptocurrency market. The best has yet to come, and this is the dawn of a coming new financial age. 

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From The Charts: Could This Be The Best Time To Buy XRP?

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The crypto market is getting a little uncertain of late, although a lot of fans are still optimistic that a bull run will soon come into play. XRP is one cryptocurrency that has braved the darkest moments of the market especially the recently-ended crypto winter.

However, XRP seems not to get a price push upwards despite various positive news especially regarding Ripple and its efforts in propping up the crypto. 

However, according to a claim by one crypto market analyst at ThinkMarkets, now might well be the best time to buy XRP at its current low price. At the moment, XRP trades at $0.2645. 

XRP Is Oversold

In a tweet, the analyst, Naeem Aslam, argues that XRP is already oversold and buying in at the current price could be a great idea for investors.

XRP Chart By @NaeemAslam23 | Via Twitter

Aslam also claimed that the XRP market is currently below the 200-week MA (Moving Average) and its RSI (Relative Strength Index) has dipped below the 37 mark. In Aslam’s opinion, these dynamics suggest that the bear market may have ended, paving way for a possible bull run.

BTC Dominance Threatens Altcoins 

Over the last few weeks, bears have demonstrated some kind of a move that has threatened the market with plunging back into the already-ended winter. A lot of the altcoins, including the top coins like XRP and Ethereum, have shed off some figures. 

On the other hand, Bitcoin has remained strong especially in terms of market dominance. BTC is currently at 69% by market dominance – up from 50% of 5 months ago. Basically, this means that the whole of the altcoin market shares the remaining 31%. In March 2019, XRP had a whole 10% market share in the crypto market. Today, the percentage has dropped way down to 4%. 

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Ripple (XRP) May Face Grim Future Despite Today’s Bounce

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Earlier this past week Ripple (XRP) along with the aggregated crypto markets faced an incredibly sharp sell-off that sent XRP reeling down to lows of $0.25, which marked a significant pullback from the mid-$0.30 region where it has previously found stability.

Although the crypto was able to post a small bounce today, analysts are still noting that XRP broke below its 2018 support level, which could mean that significantly further losses are imminent.

Ripple (XRP) Finds Support Around $0.25

At the time of writing, Ripple is trading up just over 1% at its current price of $0.265, which marks a slight increase from its daily lows of just below $0.26.

This past Wednesday, XRP incurred a significant influx of selling pressure that sent its price reeling down from over $0.30 to lows of roughly $0.25, at which point it found some strong support that allowed it to climb slightly higher.

It now appears that the $0.25 region is a strong level of support, as it has bounced each time that it has visited this region.

Importantly, unlike many other major altcoins, XRP is currently trading below its 2018 lows, and has now set a fresh low since it first began its downwards ascent from highs of nearly $4.00 in early-January of 2018.

Will XRP Drop Further in Near-Future?

Although analysts are not sure what has been the root cause behind Ripple’s lackluster price action throughout 2019, some investors have pinned it on regulatory concerns regarding its potential status as a securities product, which others have linked it to Ripple – the FinTech company closely associated with XRP – offloading massive amount of XRP onto the markets each quarter.

Regardless of what the cause might be, The Cryptomist, a popular cryptocurrency analyst on Twitter, noted in a recent tweet that the recent drop marked a break below its 2018 support level, which could mean further losses are imminent.

“$XRP: Relieved I sold last week!  Support from August 2018 has now broken. However, I am adding some here as we potentially have a falling wedge here. Breakout would test previous support,” she explained while referencing the below chart.

As the week wraps up, it is unclear as to whether or not Bitcoin’s price action will guide that of Ripple’s, or if the crypto will operate on an individual basis as it continues to face intense selling pressure.

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