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Price Analysis

Ripple Price Analysis: RippleNet Transactions Witness Remarkable Surge; while XRP Struggles to Deliver a Price Recovery

At the launch of its office in Brazil, Product Marketing VP of Ripple, Kevin Mole has announced Ripple’s achievement noting that the crypto giant has reported a record-breaking surge in the number of transactions on RippleNet. According to Mole, XRP holds a significant position when it comes to cross-border payments, as it is rapid, cheaper and more reliable.

In the last couple of days, the price fall of ripple has put an impact over the crypto market. The crypto coin has not seen bulls after Monday.

Current Statistics of XRP:

At 04:36:54 UTC, Ripple price was trading at 0.39 USD with is market Capitalization of 16,742,435,315 USD. Ripple holds Circulating Supply of 42,238,947,941 XRP. Ripple offers RoI (Return on Investment) of 6,648.13%.

XRP Price Chart:

Ripple Price Chart

Comparison:

The 5-day chart of XRP appears quite volatile, as except for the initial price spike reaching as high as 0.43 USD (its 5-day High price), it has seen many price drops. From the price rise, XRP saw a pullback, after which it gradually decreased to 0.37 USD crossing support at 0.40 USD. It was a price decline of 13.75% and it has started its price recovery which has turned a bit bearish. In the last 5 days, Ripple has decreased to 7.14%.

XRP Price Prediction and Conclusion:

If Ripple manages to tap on the bullish vibe, it is likely to cross 0.44 USD price mark in the next couple of weeks. In that case, it may face resistance at 0.40 USD, and 0.41. Though if it further heads downward, it will see support levels at 0.38 USD and 0.37 USD.

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Ruti Vora

Ruti has recently joined CryptonewsZ as a writer and has been writing on other cryptocurrency sites as well. Having a background of tech field makes her versatile with a keen interest in literature. You will find her surrounded by books and music when she is not on work. You can also contact her on Linkedin or Facebook.
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