Ripple (XRP) Statistics At Glance: Widespread Bear Pressure is Creating Troubles for Ripple

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Ripple (XRP) is a creation of Ripple Labs Inc. It is a real-time gross settlement system, currency exchange, and remittance network with the aim of becoming the fastest and most secure financial system of the current times. Ripple is an independent digital asset based on Ripple Consensus Ledger. It has a vision of giving the coin a global reach and substituting itself with the major financial intermediaries. Ripple (XRP) relies upon distributed open source protocol.

Current Statistics-

XRPRipple coin is the market’s 3rd largest crypto coin with an ROI (Return on Investment) of 5048.49 %. The coins in supply stand at 42,004,966,728 XRP. The current market cap as on 25th April at 02:24 UTC stands at 12,721,275,372 USD. The value of each coin stands at 0.302852 USD and 0.00005555 BTC. The current 24 h volume at the same UTC is 1,497,779,955 USD.

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Comparison-

Ripple coin was at a very high level at the beginning of the year. However, it failed to grow in that momentum. It has gone through many inconsistencies. These have cost the coin a huge investors’ base as well. On January 29th the coin was at its lowest at 0.28 USD. The market cap on 25th March was 12,889,587,179 USD. The value of each coin stood at 0.309355 USD and 0.00007688 BTC. The current market cap has decreased by 1.30 % in these 30 days. The value of each coin has also deflated by just 2.10 % since March 25th.

Prediction-

Ripple (XRP) has been going through a rough phase. This has happened after a huge sell-out happened after the starting of April. The value is now hovering around 0.3 USD and this is likely to fall further. Investors should get ready to buy coins once it reaches 0.25 USD level. After the fall, it should show a growing pattern. The value should find resistance at 0.36 USD. And the resistance is due in the 2nd week of May. The medium-term and long term outlook is bullish. By the end of 2019, the value should be at 1 USD and it may touch as high as 5 USD by the end of 2020.

Conclusion-

We advise the short term investors to look for the right time to buy coins in the falling times. The long term holders need to remain patient in the period of huge selling out so that they can at least reap 20 times of the current value.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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