XRP was one of the major cryptocurrencies in the crypto market. The coin had shown great momentum till June, but when the bears stuck in July, Ripple price went on a continual downward swing. If we look at the YTD price chart, it shows that the price of XRP coin trading in the range between $0.20 – $0.43.
XRP Price Comparison
Ripple cryptocurrency had managed to move at a stable upward momentum till June when the crypto market was in a bull phase. However, the bearish sentiment in the crypto market since July set the price of XRP rolling in the downward direction. The price was at $0.2838 on January 28. Ripple price moved in the upward direction and reached a high of $0.4384 on May 15; the upward rally was to the tune of 55.89%. The bears got stronger since July and the price of XRP went on a downhill and fell to $0.2371 on September 24 showing a downward movement of 45.92%. The coin price picked up and reached $0.3039 on November 07. But the bears got the better of Ripple and pushed the price downwards to $0.2000 on December 18. Today, the price of XRP has fallen further to $0.1879.
Ripple price currently seems to be fully under bear pressure as the price has been continually moving in the lower range. The trend is expected to continue for the short-term. Analysts, however, are confident about the future potential of the XRP coin and expect it to show a stable upward momentum by early 2020.
Investors need not worry about the short-term bearish trend as the coin has been a great performer in the past. Day traders can continue to trade with a cautious approach.