Ripple Price Analysis: XRP Price Slid, Trades In The Extreme Bearish Zone!

Finally, the mission of Ripple seems to be hitting reality. FedNow is driving the transformation to the real-time payment infrastructure by introducing faster payment support in the US and around the world. This means that XRP might become a front face for the pre-funded Nostro account. The ranking and capitalization of XRP will touch the skies after that.

Current Statistics of Ripple:

XRP is seen trading at $0.31046 at 01:41 UTC as on 8th August 2019. The other essential factors are calculated as below:

  • Return On Investment: 5189.19%
  • Total supply/ Circulating Supply: 99,991,387,607 XRP/ 42,872,646,068 XRP
  • 24 Hour Volume: 968,755,879 USD
  • Market Cap Value: 13,319,621,177 USD
  • 7 Day high/low: 0.331414 USD/ 0.308720 USD

XRP to USD Price Comparison:

Ripple Price Prediction
Ripple Price Chart by TradingView

On 3rd August, the coin was initially seen trading at $0.31094 at 00:40 UTC. The value escalated by 2.06% on the same day at 16:30 UTC time trading at $0.31735. Later, the value dropped by 1.5% on 4th August at 06:10 UTC, trading at $0.316. With volatility as the factor, the coin again escalated by 5.51% on 5th August at 10:50 UTC time trading at $0.3298. The value dropped by 3.73% on 6th August at 02:05 UTC trading at $0.31774 which was slightly escalated by 21.14% at 10:10 UTC, trading at $0.32453.

The value from then dropped by 4.9% at 21:20 UTC time on the same day with the trading value of the coin changed to $0.30849. The value then escalated by 2.31% on 7th August at 06:20 UTC time trading at $0.3156, which is now dropped to the red zone again.

Ripple Price Prediction and Conclusion:

XRP has been in the news for a long time now. It appears that XRP is arriving nearer to their main goal of value cash that each bank trusts. In any case, XRP is trading within the bears’ pattern, yet it appears that it may soon bounce back as per its positioning in the market.

The resistance level and the support level are as follows:

Resistance Levels:

R1: 0.315455, R2: 0.31894, R3: 0.322308

Support Levels:

S1: 0.308602, S2: 0.305234, S3: 0.301749

By the end of 2019, XRP has an ability to connect with the touchdown of $0.7, that may help to acquire colossal returns to the merchants the system.

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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