Price Analysis

Ripple Price Analysis: Ripple Launches Office in Brazil as Part of Plans to Expand in Latin America

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  • Ripple, the crypto behemoth behind XRP has launched its office in Brazil while intending to Expand in Latin America
  • In the last 30 days, XRP price has seen enough volatility
  • Ripple price has increased to 25% in the last 30 days

Ripple (XRP) is currently busy recovering its price which was tumbling for a few days. With a slow rebound, the crypto-coin is improving its price trend with upward momentum.

Meanwhile, an update regarding Ripple has heated up the crypto market that reveals that the crypto giant has opened its office in Brazil. Ripple, the firm behind XRP also intends to further its expansion in Latin America. This move by Ripple is expected to enhance the mass adoption of XRP in the region.

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Talking about how XRP price has been performing, we can note that despite recent price plunge, Ripple has shown notable growth in the last one month.

Ripple Price Current Statistics:

At 06:01:50 UTC, XRP price was standing at 0.40 USD with its Market Capitalization of 16,742,435,315 USD. Ripple holds 42,238,947,941 XRP as its Circulating Supply while offering RoI of 6,648.13%.

XRP Price Chart:

Ripple price chart & News

Comparison:

In the 30-day chart of XRP, we can notice multiple peaks in its price path. The price saw a sharp increase from 0.32 USD and reached as high as 0.48 USD. Here, it faced a pullback followed by price peaks lower than the previous one. After a small plunge, the XRP price again surged gradually to 0.47 USD followed by decreasing peaks of further price spikes. The XRP price trend thus traces an impulsive pattern. In the last 30 days, XRP price has seen a price hike of 25%.

Prediction and Conclusion:

Looking at its chart, It seems, XRP price may see some increase in the next one week, it is expected to face resistance at 0.4082 USD, 0.416 USD and 0.428 USD in the short term. If the price faces a fall it can get support level at 0.389 USD, 0.377 USD and 0.369 USD.

As far as long term results of Ripple are concerned, it may see some more price plunges with bearishness in its price trend till the end of 2019, but it is likely to surge in the year of 2020.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on the world's leading digital currencies.

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